‘Bank of Twitter’: Is Elon Musk Spitballing?

Elon Musk is seriously considering putting Twitter into the payments business to make it profitable. Will the blue bird fly?

Can Elon Musk turn Twitter, a social media platform that’s as much a lightning rod for controversy as its new owner, into a payment company? Or, beyond that, into something like a bank?

Musk was one of the founders of PayPal, so he knows something about payments. His SpaceX puts satellites into space, runs the Starlink space-based internet system and has branched into military contracting. He got Tesla rolling, a company that until recently accounted for most of the sales of electric vehicles in the United States.

But there’s substantial doubt that even he could get a Twitter payments program, or a Twitter “bank,” off the launch pad. Even industry observers who have been enthusiastic about outsiders tackling the banking business are skeptical.

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