ETH

X-Payments Incoming - Will DOGE be Included?

by BSC News

September 21, 2023

chain

A video presentation showcased X's vision, enabling users to make online purchases, facilitate money transfers, and tap into ad revenue income streams within Elon Musk's creator community.

X Confirms Payment Integration

In a recent announcement, Linda Yaccarino, the CEO of X, unveiled an intriguing video that introduced a wide range of payment integrations on the platform. Cryptocurrency speculation is rife with Elon Musk's X, particularly as it relates to the possible inclusion of Dogecoin (DOGE) in its supported crypto market. 

The video presented by Linda Yaccarino shed light on X's ambitious plans to evolve into a comprehensive payments app. This transformation promises to empower users to make online purchases, facilitate money transfers, and tap into income streams generated from ad revenues within Elon Musk's creator community. 

Worth noting, Elon Musk, who rebranded Twitter as X, is aiming to create an all-in-one application experience. His vocal support for cryptocurrencies, particularly Dogecoin, has fueled speculation about the integration of DOGE payments on X. Note, however, that the video released today did not explicitly confirm or hint at the inclusion of DOGE or cryptocurrencies in general.

Laying the Groundwork for Crypto Payment Integration

With this strategic move, X is positioned to explore a wider range of payment options, which leaves us wondering: Will Dogecoin find a prominent position within X?

According to sources from the Financial Times, X's payments feature will initially support fiat currencies only, but Musk reportedly instructed developers at the company to build the platform's payments system so that crypto functionality can be added later. 

Further, X has acquired licenses in seven U.S. states, including Maryland, New Hampshire, and Rhode Island. While the Rhode Island license does encompass cryptocurrency payments, it also covers more conventional payment providers like PayPal and Venmo. 

Moreover, Elon Musk's influence on the cryptocurrency market is undeniable. When Musk speaks or, in this case, tweets, the crypto world listens intently. He hasn't recently posted Dogecoin-related posts, such as sharing a DOGE meme or wearing a DOGE shirt as he has previously, but Musk continues to actively engage with Dogecoin supporters. 

However, last August, Musk, in response to a tweet by his mother, Maye Musk, described Twitter/X as "friendly" to Dogecoin. The potential endorsement of Dogecoin on X, both as a tradable asset and as a mode of payment, holds the potential to significantly boost its appeal and value. 

The integration of DOGE payments within X has not been confirmed yet, but the crypto community awaits official announcements from Elon Musk and X regarding this possibility. 

Disclaimer

Disclaimer: The views expressed in this article do not necessarily represent the views of BSCNews. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. BSCNews assumes no responsibility for any investment decisions made based on the information provided in this article

Related News

;