TechFlow reports, according to Decrypt, that New Hampshire, Michigan, and Missouri have approved Twitter's application as a money transmission entity, laying the foundation for the social media platform to enter the payment and other financial services sectors.
Requirements for money transmission licenses and the privileges they confer vary by state, but generally allow companies to send, receive, and transfer funds between customers domestically and internationally. They also permit currency exchange, such as converting foreign currencies into U.S. dollars, and issuing prepaid cards.
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