DOGE Jumps as Elon Musk's X App Gets Closer to Crypto Payments Adoption

The website of NMLS licenses required for processing cryptocurrency payments shows that on Aug. 28, Twitter Payments LLC got a license approved in yet another US state – Rhode Island.

Twitter Payments gets new license, DOGE rises 4.34%

Now, Elon Musk's X company (formerly Twitter) can conduct crypto transactions and process them in seven states: Arizona, Missouri, Georgia, Maryland, Michigan, New Hampshire and now Rhode Island. The other six Rhode Island Currency Transmission Licenses were approved earlier this year, according to the data presented on the webpage.

When it happened on Aug. 28, the price of Dogecoin, favored by Elon Musk, went up by roughly 2.55%, dropping back soon after that.

The DOGE army expects Musk to integrate crypto payments using Dogecoin on the X app in the near future, and so the fact of Twitter Payments LLC receiving these licenses has been carefully anticipated by the army of meme coin lovers. At press time, DOGE is changing hands at $0.06455, jumping by 4.34%.

This DOGE rise is also fueled now by the sudden increase of the Bitcoin price, driven by Grayscale's victory in court against the SEC regarding the Bitcoin ETF case.

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Musk plans to connect X and DOGE accepting Tesla

Earlier today, Elon Musk announced in a tweet (an X post) that he intends to have a special app developed to allow Tesla owners to catch up with the new stuff coming out in their feed on the X app.

He hints that should DOGE payments be ultimately adopted by X, they may spread to Tesla as well. Besides, as of the end of 2021, Tesla has already accepted Dogecoin for merchandise in its online store.

In the spring of 2022, SpaceX followed suit.