Elon Musk confirms X is preparing to launch a remittance feature in its X Payments service
On November 24th, Elon Musk confirmed that X is preparing to launch a remittance function in its X Payments service in response to a social media post by podcast giant Joe Rogan showing a dollar sign icon in his personal profile. The feature is part of Musk's strategy to transform X into a "super app" similar to WeChat. X Payments LLC has obtained remittance licenses in most US states (excluding New York), laying the foundation for integrating payment services on the platform. The planned peer-to-peer transaction feature aims to increase user engagement by enabling direct remittances within the platform. Although details about potential integration of crypto assets have not been confirmed, given Musk's longstanding support for Dogecoin, the community speculates that the cryptocurrency may be included.
In September, it was reported that X Payments, a wholly-owned subsidiary of Musk's X, had obtained a currency transfer license in Oklahoma, bringing the total number of US states where it has obtained currency transfer licenses to 37. X Payments aims to seek licenses in all 50 US states and hopes to launch payment services across the country later this year.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Abu Dhabi-backed VC firm invests $5 million in ZKsync-based crypto exchange GRVT
GRVT has raised $5 million in equity funding from Further Ventures, a VC firm backed by Abu Dhabi’s sovereign wealth fund, ADQ.The ZKsync-based hybrid crypto exchange recently launched its mainnet alpha — initially offering perpetual trading.
Bitcoin Fades From Highs After No Crypto Mentions During Trump's Inauguration Speech
Massive Whale Activity: Best Altcoins to Buy Now For January – Cryptos Picked by Whales (500x Potential Returns)