Elon Musk details his plan to turn Twitter into a bank

A penny for your tweets. | Illustration by Laura Normand / The Verge

Elon Musk seems intent on turning Twitter into a bank, complete with what he describes as a “high-yield money market account,” debit cards, checks, and loans. He described his plans during a last-minute meeting with staff today, and you can read a full transcript of that here.

Musk broached the topic of payments during his introduction, saying that “I think there’s this transformative opportunity in payments,” adding that the goal is “enabling people on Twitter to able to send money anywhere in the world instantly and in real-time. We just want to make it as useful as possible.” He said that the feature, along with “video content and compensating content creators” and improving search, is a “high priority.”

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