X Payments is Coming? Musk Creates XPayments Account, Dogecoin Surges by 13%

Jafar224

Elon Musk's previously announced X platform payment feature for 2023 has indeed materialized. Today (21), an account named "XPayments" was established on the X platform. Although the account has not revealed any information at the moment, according to the rules of the X platform, having a golden badge indicates that the account is officially registered.

Upgraded Version of PayPal Coming?

Elon Musk has been leading a significant rebranding of Twitter since taking over, aiming to transform X (Twitter) into a super app supporting community, voice calls, shopping, and payment functions. In fact, Musk had indicated in 2023 that he would be very surprised if this product could not be launched by the end of 2024.

Starting from June of the previous year, X obtained a license for money transfer in New Hampshire, and then in late November, it acquired three additional Money Transmitter Licenses in South Dakota (November 27), Kansas (November 28), and Wyoming (November 30). This week (16), it obtained the required license for currency payments in Utah, bringing the total number of states allowing the company to conduct fund transfers to thirteen.

It's worth noting that these registrations are associated with a company called "X Payments LLC" (formerly "Twitter Payments LLC"), which will operate the remittance business for X. The account name "X Payments" aligns with this company name, raising expectations in the community that Musk is about to announce significant news through this account.

Furthermore, although the requirements for money transmitter licenses and the privileges granted vary among U.S. states, these licenses typically allow companies to send, receive, and transfer funds for customers nationally and internationally. They also permit activities such as foreign exchange, exchanging foreign currency for dollars, and issuing prepaid cards, which encompass both fiat currency and cryptocurrencies.

Dogecoin Surges by 13%

Elon Musk, who has consistently supported Dogecoin, has hinted at the possibility of introducing Dogecoin to X payments, although it has not been explicitly stated so far. Obtaining a money transmitter license does not necessarily imply the introduction of cryptocurrencies to X. However, Dogecoin has reacted to this news, with its price surging by 13% in the past 24 hours, reaching $0.089.

Niti998

You can look forward to it.

Samiksha

Do you guys know how much money Elon Musk has?

Ritu77

Now there are developments in various aspects as well.