X will launch a dedicated account of payments, crypto community estimates
Elon Musk's “everything app” X (formerly Twitter) has created a separate account for its upcoming payment feature, fueling the crypto community's speculation about whether cryptocurrencies will be implemented.
The X app is expected to introduce in-app payment services in mid-2024. However, it is not confirmed whether the feature supports payments beyond traditional fiat currencies.
While no posts have been made to the account yet, it carries the gold badge indicating that it is a verified organization. Additionally, it carries an X badge indicating that it is affiliated with X.
With his 169,000 followers posting on X, crypto researcher Mason Versluss shared his excitement over the prospect of seeing cryptocurrencies starting with “X” on the app, such as XRP (XRP), Stellar (XLM) and XDC (XDC).
So X is building “X Payments”.
That's right, X coins… $XRP $XLM $XDC $XYO etc…
I would like to see MASSIVE crypto integration from X
Change the world Elon, burn the SEC + Banks in this game.
— MASON VERSLUIS (@MasonVersluis) January 20, 2024
Meanwhile, Musk has included Dogecoin (DOGE) for payments at Tesla's retail store, and occasionally mentions it on social media. Many believe that cryptocurrency is the most likely to be included on X.
The crypto community has analyzed subtle hints from Musk and X over time, suggesting interest in DOGE for future projects.
In the year In October 2023, Cointelegraph reported that X posted a meme of a dog answering a phone call, prompting the Dogecoin community to decipher its meaning.
I asked Grok @elonmusk pic.twitter.com/49tK9t9tT0
— Ɖｏｅｅ_ｌｂｅａ (@doge_albania) January 20, 2024
Meanwhile, crypto researcher Tokenniker told his 36,200 followers that he believes X has shifted his focus away from crypto-friendly content. In the year In 2023, X implemented an ad revenue sharing system that allows content creators to monetize their content within the app.
“X seems to have recently cut fees for crypto content,” he said.
“A few months ago he was getting $40-$70 checks and he got one for $16,” he explained.
Related: Elon Musk X moves into crypto payments with new state license
However, the payment system is based on aggregate impressions accumulated by content creators, so it may vary between periods.
After Musk acquires Twitter in April 2022, there are many predictions about the speed of the transition to an entirely new platform and the potential integration of crypto based on years of continuous speculation.
In the year In July 2023, Cointelegraph reported that Musk believed that X could eventually offer people “the ability to manage your entire financial world.”
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