Elon Musk to Add Payment Feature to X App by Mid-2024, Keeping Crypto Integration Ambiguity

Elon Musk to Add Payment Feature to X App by Mid-2024, Keeping Crypto Integration Ambiguity

VoM News Desk | December 23, 2023 | 12:20 PM IST | Technology | Follow on Google News

Elon Musk to Add Payment Feature to X App by Mid-2024, Keeping Crypto Integration Ambiguity /Reuters

Elon Musk to Add Payment Feature to X App by Mid-2024, Keeping Crypto Integration Ambiguity

Elon Musk recently unveiled his intentions to introduce a payment feature into X app (formerly Twitter) by mid-2024, aligning with his vision of evolving X into an “everything app.” Previously known as a microblogging platform, Musk aims to expand X’s capabilities. However, his mention of this feature did not encompass cryptocurrencies, despite considerable demand among crypto enthusiasts on the platform.

In an interview with ARK Invest’s Cathie Wood, Musk highlighted the need for several approvals before X could function as a money transmitter, setting the estimated rollout of the payment feature to mid-2024.

Musk admitted to delays in processing the required applications, yet he did not disclose plans to integrate cryptocurrencies into X’s upcoming payment system.

Additionally, Musk recently expressed minimal interest in digital assets, implying he devotes little time to contemplating them, as revealed through his GenAI initiative called Grok.

This stance of Musk’s, seemingly distant from the crypto sector, has sparked debates among users on the platform.

Although X obtained currency transmitter licenses in Rhode Island, Michigan, Missouri, and New Hampshire by August this year, Musk’s statements indicate a more cautious approach to digital currency integration within X’s payment system.

While Musk’s views toward cryptocurrencies appear reserved, Tesla, his electric vehicle company, still holds Bitcoin valued at $148 million.

Furthermore, Tesla allows the purchase of certain merchandise using Dogecoin. In 2022, Musk’s tunnel construction firm, The Boring Company, facilitated DOGE payments for rides on the Las Vegas transit system.

Musk had earlier suggested Dogecoin as a payment option for Twitter Blue services, but this proposal did not materialize over subsequent months.

It remains unclear whether X plans to incorporate crypto transactions within its upcoming payment feature.

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