On June 21st, it was reported that users of the X platform (formerly Twitter) may not be able to send or receive cryptocurrencies on the platform in the short term. Although cryptocurrency enthusiasts have long speculated that Musk, as a major backer of Meme Coin Dogecoin, will integrate it into X's "all-round application" plan, new regulatory filings show that Musk's planned payment service, X Payments, does not include cryptocurrencies. X Payments has obtained money transmission licenses in 28 states and plans to apply in the remaining states, aiming to provide users with payment functions similar to Venmo or Zelle.
While Dogecoin proponents remain hopeful that cryptocurrencies will be integrated into payments systems in the future, the documents and statements from Musk and Twitter CEO Linda Yaccarino do not specify the specific goals of X Payments. X told regulators that it would increase customer engagement through the payment platform and charge a minimal fee at launch.
Musk's X platform payment plan does not include cryptocurrencies for the time being
2024-06-21 02:51:57
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