X's CEO Linda announced that X Payments will launch in the U.S. in 2025, with its code having been quietly updated.

This initiative is significant as it integrates financial functions into social platforms, greatly enhancing user convenience. Monetization for creators and traffic generation for small businesses will become easier, which not only consolidates X platform's ecological advantage but also promotes the deep integration of "social + commerce + finance".

In contrast, Meta's Meta Pay, launched a few years ago, was primarily used for transactions on its platforms, but advertising revenue remains Meta's main source of income. The data for Meta Pay has also not been disclosed and seems more like an extension of traditional payment methods. Musk, however, positions X Payments (also known as X Money) as a competitor to traditional banks, aiming to make it a core function of the platform.

Additionally, Musk has always been passionate about cryptocurrencies, so X Payments is expected to become a testing ground for the integration of cryptocurrencies with mainstream finance.

With the arrival of X Payments, competition in the payment sector will become fiercer. Can it reshape the landscape of digital wallets? I personally look forward to it! 🐶