Elon #Musk envisions transforming X (formerly known as Twitter) into a universal application with a wide range of features, among which is an integrated payment processor. Musk has previously hinted that X will be friendly to the cryptocurrency #DOGE .
Licensing in the USA
A key step for X to become a hub for crypto payments in the USA is obtaining the necessary licenses. While the company has already secured several licenses for traditional payments, it is now focusing on cryptocurrencies. Recently, #X obtained a license from Rhode Island, allowing it to conduct transactions with cryptocurrencies.
What Does This Mean for X Users?
With this license, X can now store, transfer, and trade cryptocurrencies on behalf of its clients.
Future Plans of X in Cryptocurrency
Although Elon Musk has acquired a license for crypto payments, it remains uncertain whether X will truly offer cryptocurrency services. While Musk has stated that X will never have its own cryptocurrency, Tesla, another of Musk's ventures, holds a significant amount of bitcoin in its assets.
Musk's Relationship with Dogecoin
Elon Musk is also renowned for his support of #Dogecoin and #SpaceCatch . Many speculate that due to his influence, Dogecoin might soon be accepted on the X platform, similar to how it was once adopted for Tesla products.
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“