Elon Musk Pursues Banking in Wake of Rivals’ Failed Attempts

• Billionaire plans to make Twitter a financial-services app too
• Idea is part of the rebranding of Twitter with the letter X

Billionaire Elon Musk’s grand vision is to turn Twitter into a one-stop shop for financial services. It’s hardly the first time a tech giant has sought to muscle in on Jamie Dimon’s turf.

The landscape is filled with technology firms that aimed to do the same thing: Facebook spent years investing in a project called Libra that was supposed to revolutionize cross-border payments, but regulatory scrutiny forced it to abandon the project. Google planned a digital financial offering and even lined up 11 banks as partners for the launch before it suddenly nixed the entire plan. And Amazon.com Inc. considered offering checking accounts for consumers, but that project never became a reality.