Elon Musk has long been associated with the world of cryptocurrency, particularly with Dogecoin (DOGE). Known as the "Dogefather," Musk has publicly supported this meme coin, from introducing it as a potential payment method for Twitter's Premium services to causing wild price fluctuations with just a tweet. So, when Musk's latest project, X Money, was announced—a payment platform launched through a partnership with Visa—the cryptocurrency community eagerly awaited one important detail: would Dogecoin be integrated?

What surprised many is that Musk's first launch of X Money made no mention of DOGE, blockchain, or cryptocurrency. Instead, the focus was on traditional finance, with X Money offering peer-to-peer payment services, instant bank transfers via debit cards, and X Wallet for storing money—all powered by Visa Direct.

Launching X Money: A traditional approach

X Money is committed to making sending and receiving money as easy as possible. Its main features include:

  • Deposit money instantly via Visa Direct: Fast and seamless money transfer.

  • Peer-to-peer payments: Send money between users in real-time.

  • X Wallet to store money: A digital wallet to manage your balance.

  • Instant bank transfers: Through debit card integration, users can transfer money directly from their bank accounts.

While these features may sound familiar to users of other payment platforms like PayPal, Venmo, or Cash App, there is still a notable absence: cryptocurrency. Despite rising expectations, Musk's announcement did not mention Dogecoin, and there are no signs that cryptocurrency will be supported—at least for now.

Why the silence on Dogecoin?

With Musk's well-documented support for Dogecoin, this omission is puzzling. Over the years, Musk has been a strong advocate for DOGE, from integrating DOGE into purchases at Tesla and SpaceX to changing Twitter's logo to the iconic Shiba Inu dog representing Dogecoin, which caused a price surge. The question now is: why didn't Musk include DOGE in X Money?

Although no official explanation has been provided, several factors may influence this decision.

1. Regulatory concerns

The regulatory environment surrounding cryptocurrency remains complex and uncertain. Musk's decision not to integrate DOGE at launch may stem from a desire to avoid regulatory scrutiny as X Money asserts itself. Cryptocurrency often faces tight scrutiny from financial regulators, and Musk may be exercising caution before integrating cryptocurrency into X Money.

2. Visa Partnership

X Money is built through a partnership with Visa, a company known for traditional payment services. This collaboration may make it easier to launch a regulated payment service that complies with financial laws. Integrating cryptocurrency, especially Dogecoin, into such a system could be complicated due to existing regulations or licensing requirements.

3. Strategic Timing

Musk is known for his unconventional business approach, and this could just be another case of him playing the long game. While DOGE may not have been included in the initial rollout of X Money, Musk may be waiting for the right moment—perhaps waiting for greater regulatory clarity or public acceptance of cryptocurrency payment systems before making a move. This delay could ultimately position Dogecoin for a much larger role in the X platform when the time is right.

Could Dogecoin be integrated later?

Although Dogecoin was not present at launch, there are strong reasons to believe it will eventually be integrated into X Money. Here are the reasons:

1. Cryptocurrency-friendly license of X Payments LLC

X Payments LLC, the company behind X Money, has applied for money transfer licenses in 40 states, plus Washington DC. This legal framework allows X Payments to operate legally in the United States, a crucial step toward integrating cryptocurrency payments in the future.

2. Visa's experience with cryptocurrency

Visa has previously worked with cryptocurrency. In October 2024, Visa Direct was integrated into Coinbase, allowing users to buy and withdraw cryptocurrency seamlessly. This connection makes it possible for X Money to do the same, eventually integrating cryptocurrency payment capabilities like DOGE.

3. Musk's ongoing connection with Dogecoin

Musk's association with Dogecoin is not just a marketing tool—he has played a significant role in bringing DOGE into the mainstream. With his penchant for surprises, Musk may just be delaying the integration of DOGE, likely planning a big reveal when market conditions are more favorable or when cryptocurrency regulations become clearer.

How does X Money compare to other platforms?

At first glance, X Money seems similar to services like PayPal, Venmo, and Cash App. But without cryptocurrency capabilities, it is unlikely to make a significant impact in a market already dominated by these platforms. Here’s a quick comparison:

Will Dogecoin ever appear on X Money?

It is still too early to say, but given Musk's history with Dogecoin, it's not impossible. Speculation around integrating DOGE into X Money is evident, and many believe it is just a matter of time.

Currently, X Money appears to be just another traditional payment app, but Musk's long-term vision could turn it into something much more innovative.

So, for those holding Dogecoin, it might be wise to HODL right now and wait for Musk's next move. As always, with Elon Musk at the helm, anything can happen.

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