Elon Musk’s social media platform X quickly integrates a variety of financial services, allowing users to make payments and investments directly within the app.
In a recent interview with the Financial Times, X CEO Linda Yaccarino said that the platform’s estimated 600 million users will ultimately lead to investment management, “can trade (their) full lifespan on the platform.”
The company is also considering launching potential X-branded credit or debit cards later this year.
X’s foray into financial services is no surprise given that Musk has already confirmed X-Money payments and beta testing of banking apps.
In response to a social media post on May 25, Musk said “extremely careful” during the pilot phase, as “people savings are involved.”
The official X Money account will tease the release of 2025.
Yacarrino told the Financial Times that the X-Money Payment app will be first launched in the US and will be called the “Commerce Ecosystem and Financial Ecosystem.”
Related: Elon Musk says X’s DM feature Xchat has “Bitcoin-style encryption”
No mention of X Money ciphers yet
Neither Jaccarino nor Mask have confirmed whether crypto payments are part of X’s financial ecosystem, despite Mask’s well-known support for Dogecoin, a popular dog-themed memo coin released in 2013.
In March 2024, Musk said Doge could be used to buy Teslas “at some point,” but there was no timeline. Crypto users have made this a sign that entrepreneurs can quickly deploy crypto payment support across all companies.
X remains silent about potential crypto payment integrations, but other companies are moving forward with digital asset payment solutions.
As reported by Cointelegraph, Visa is promoting the adoption of Stablecoin in Africa through its partnership with Yellowcard Financial, which has driven more than $6 billion in transactions since 2019.
Major US institutions have also expressed interest in participating in crypto payment spaces. JPMorgan Chase recently submitted a trademark application for a JPMD deposit token that supports a variety of cryptographic services.
On Tuesday, JPMorgan said it would pilot JPMD transactions on Coinbase’s base network.
https://www.youtube.com/watch?v=ziirhv3cbog
Magazine: Will Elon Musk Dogecoin Pump be incoming calls? Sol is leaning to hit $300 in 2025: Corporate Secrets
