Since Elon Musk began to lead Twitter, he has been committed to launching payment functions and has continued to obtain money transmitter licenses in many states in the United States. So far, it has been approved in 39 states. These registrations are all related to a company called "X Payments LLC".
X code sparks discussion on upcoming X Money
And today, the X code leaked by MacRumors special researcher Aaron Perris triggered rumors that "X Money" (the name of the X payment system) may be launched at any time.
According to a screenshot of the code shared by Aaron Perris, it says:
You can still view your balance, but all actions are currently disabled until X Money is available in your state.
X Money is not available in your state.
This led Aaron Perris to say that it looked as if X was planning to launch X Money first in parts of the US before all 50 states approved it.
Will X Payments support cryptocurrencies?
Entrepreneur Alex Finn backed up this speculation, saying that the newly exposed X code means that X payments could be launched today, allowing creators to start earning more income right away.
If your state has X Payments enabled, you'll have the opportunity to earn tips and revenue through your content and Spaces.
This is a huge benefit for creators on the X platform.
If this is true, X Money will first be launched in the 39 states where X has obtained a money transmitter license. Therefore, Alaska, Delaware, Hawaii, Indiana, Massachusetts, Minnesota, Montana, New York, Vermont, Washington, and Wisconsin, which do not yet have a license, will not be supported immediately.
While requirements for money transmitter licenses and the privileges granted by the licenses vary from state to state, these licenses generally allow companies to send, receive, and transfer money for customers nationally and internationally, and also allow for foreign exchange conversion, such as exchanging foreign currency for U.S. dollars, and the issuance of prepaid cards, a definition that includes both fiat and cryptocurrencies.
Alex said in his X Spaces that “X payment will support cryptocurrency in some form.” He added that this is the fastest way to transfer currency and pointed out:
Cryptocurrencies are likely to become the core payment basis for (X) Payments.
CEO confirms X Money will be launched in 2025
Although the discussion about the validity of the code and whether X Money is about to be launched has not been officially confirmed by X, X CEO Linda Yaccarino said in a tweet on the 1st that X will launch X Money in 2025.
In 2024, X has changed the world. Now, you are the media!
In 2025, X will connect you like never before, with X TV, X Money, Grok, and more coming soon.
The remarks add more expectations for X to launch payment features this year.
Dogecoin rises nearly 3%
As for whether cryptocurrencies will be introduced, there is still uncertainty, but if they are really supported, it is speculated that Dogecoin (DOGE), which Musk has long supported, may be the first choice. In addition, he recently changed the avatar of X to PEPE, which also made the outside world speculate whether PEPE is expected to receive support. According to Coingecko data, DOGE rose 2.7% in the past 24 hours to $0.3391, while PEPE rose 0.7% to $0.00002033.
