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Elon Musk confirms X is preparing to launch a remittance feature in its X Payments service

Elon Musk confirms X is preparing to launch a remittance feature in its X Payments service

CointimeCointime2024/11/24 02:44
By:Cointime

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.

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Cryptopolitan2024/11/24 03:44