X, the platform formerly known as Twitter, is set to roll out a remittance feature through its X Payments service, according to CEO Elon Musk. This marks a significant step toward Musk's vision of transforming X into a WeChat-like "everything app."
Key Details:
Licensing: X Payments LLC has secured money transmitter licenses in 37 U.S. states, excluding New York, laying the groundwork for seamless payment integrations.
Peer-to-Peer Transactions: The new feature aims to enhance user engagement by enabling direct money transfers within the app.
Cryptocurrency Speculations: While details on crypto integration remain undisclosed, community speculation suggests the inclusion of Dogecoin due to Musk's past endorsements.
X Payments aims to secure licenses in all 50 states and plans to launch its payment services by the end of 2024. This development aligns with Musk's broader strategy of integrating diverse functionalities into a single, user-friendly platform.
