In a groundbreaking initiative, Elon Musk envisions the complete overhaul of traditional banking systems by 2024, with the ambitious aim of replacing them with X, a cutting-edge financial solution that promises unprecedented accessibility and efficiency.
As this vision unfolds, X, the pioneering financial service, has introduce new subscription tiers, including Basic and Premium+, price at an incredibly affordable $3 per month.
With these new tiers, X aims to cater to a wider audience, delivering enhance financial services and benefits to users at a nominal cost, thereby revolutionizing the way individuals engage with their finances.
Elon Musk Wants X to Replace Your Bank by the End of 2024
Elon Musk acquire Twitter for $44 billion, and within a year, the platform underwent significant, but largely disliked, changes.
Firstly, the company introduce a paid subscription service.
Then it rebrand itself as “X,” a move that many felt strip the platform of its identity, causing users to seek alternatives like Threads.
But, Elon Musk’s ambitions don’t stop here.
The eccentric billionaire aims to transform X into a comprehensive platform for all financial services, potentially replacing traditional banks.
Elon Musk wants X to become a one-stop shop for all financial needs, replacing traditional banks.
He has given his employees a deadline of the end of 2024 to make this happen.
Elon Musk’s vision for X is to create a platform that can handle everything from sending money to friends and family to investing in securities.
He wants X to be a place where people can manage their entire financial lives.
Elon Musk has also said that he wants X to offer features that go beyond traditional banking services.
For example, he has mention the possibility of offering high-yield money market accounts and checking accounts with no overdraft fees.
Turning X into a financial hub is a ambitious goal, and it remains to be seen whether Elon Musk will be able to achieve it.
But, Elon Musk has a track record of success in disrupting industries, so it’s certainly possible that he could shake up the banking industry with X.
There are already many different financial products and services available, so it’s not clear why people would need to switch to X.
Elon Musk will need to clearly articulate the benefits of using X over other financial platforms.
Also X will need to obtain the necessary licenses and approvals from regulators in order to offer financial services.
This can be a complex and time-consuming process.
Despite these challenges, Eon Musk is confident that he can make X into a financial hub.
He has said that he is willing to invest heavily in X and that he is commit to making it a success.
X new Basic and Premium+ subscription tiers, starting at Rs 244/month
X, the social media messaging platform formerly known as Twitter, has introduce two new premium tiers: Premium+ and Basic.
The Premium+ tier, which price set at Rs 1,300 per month, offers an ad-free experience, the largest reply boost, and access to other creator tools.
The Basic tier, which costs Rs 243.75 per month, does not include the blue checkmark but does offer basic features like the ability to edit posts and post longer text and videos.
It also offers a small reply boost.
These new plans are also available as yearly subscription options at a 12% discount.
Subscriptions can be purchase via the X website or as in-app purchases inside the X app for iPhone and iPad, although the latter option costs 30% more to account for Apple’s commission.
The new tiers join the standard X Premium tier, which costs $8 per month and gives users a blue checkmark, prioritized ranking in replies, bookmark folders, longer posts, text formatting, themes, SMS two-factor authentication, encrypted DMs, and many more.
The launch of the new premium tiers is part of Elon Musk’s efforts to monetize X more effectively.
Elon Musk acquire X in October 2022 for $44 billion.
Since then, he has adds many new features to the platform, including livestreaming, and video and audio calls, and is even planning to incorporate banking.
