Elon Musk Spills Beans on X Payments – Is Dogecoin in Mix?

Thu, 01/25/2024 - 10:37
Cover image via youtu.be
Read U.TODAY on
Google News

In a recent interview with Ben Shapiro, entrepreneur and Tesla CEO Elon Musk provided intriguing insights into the future of the all-encompassing X platform, formerly Twitter. Musk described X as the ultimate version of what PayPal should have been. The highlight of the conversation was Musk's revelation that the much-anticipated X payments feature is set to make its debut later this year.

As X Payments LLC, the payment subsidiary of X, diligently secures money transmission licenses across the United States, it has so far acquired approval in 14 states, per the records on the Nationwide Multistate Licensing System website. Adding fuel to the speculation fire, X has recently established a dedicated account for its must-anticipated payments feature.

The X payments account, which has yet to make any posts, proudly exhibits a gold verification badge, indicating its status as an official organization, along with the X badge, denoting its connection with the X platform. Meanwhile, the timeline for the introduction of in-app payment services is anticipated to be around mid-2024, although uncertainties loom over whether the platform will extend its support for digital currencies.

Dogecoin payments integration?

While details surrounding the feature remain undisclosed, this move has sparked conversations within the Dogecoin (DOGE) community about the potential inclusion of DOGE in the payments ecosystem. Notably, Elon Musk has already integrated Dogecoin as a payment method in Tesla's official merchandise store and occasionally posts about the cryptocurrency on social media.

In April 2023, the Tesla CEO teased the possibility of DOGE payments on X, proposing Dogecoin as one of the payment options for the platform's subscription service featuring premium features for users. Such developments have put the community on edge as they eagerly await Dogecoin integration with X’s in-app payment services.

The community is abuzz with speculation about the possible integration of Dogecoin and its potential impact on DOGE price. Although there is no official confirmation regarding DOGE being added as a payment option, enthusiasts point to subtle hints from both Musk and X, indicating a potential interest in incorporating Dogecoin into upcoming projects.