Elon Musk's social media platform X is set to integrate various financial services, allowing users to make payments and investments directly within the app.
In a recent interview with the Financial Times, X CEO Linda Yaccarino stated that the platform is estimated to have 600 million users and will eventually "be able to handle their entire lives on the platform," from remittances to managing investments.
The company is also considering launching X-branded credit or debit cards later this year.
X.com is estimated to have 611 million monthly active users by 2025. Source: Demandsage
X's foray into financial services is not surprising, as Musk has confirmed that testing is underway for the X Money payment and banking app.
In response to a social media post on May 25, Elon stated that "extra caution must be taken" during the pilot phase, as "this involves people's savings."
The official X Money account has teased a formal launch in 2025.
Source: XMoney
Linda mentioned in her interview with the Financial Times that the X Money payment app will first launch in the United States, describing it as "a complete business ecosystem and financial ecosystem."
Although Musk is known for supporting Dogecoin (DOGE)—the dog-themed meme coin launched in 2013—neither Linda nor Musk has confirmed whether cryptocurrency payments will be part of the X financial ecosystem.
In March 2024, Musk stated that DOGE could be used to purchase Tesla cars "at some point," although he did not provide a specific timeline. Cryptocurrency users view this as a sign that the entrepreneur may soon introduce cryptocurrency payment support across all his companies.
While X remains silent on potential cryptocurrency payment integration, other companies are advancing digital asset payment solutions.
According to Cointelegraph, Visa is promoting the adoption of stablecoins in Africa through a partnership with Yellow Card Financial. Yellow Card Financial is a payment processor that has facilitated over $6 billion in transactions since 2019.
Major U.S. institutions have also shown interest in entering the cryptocurrency payment space. JPMorgan Chase recently filed a trademark application for its JPMD deposit token, which supports various crypto-related services.
On Tuesday, JPMorgan announced it will pilot JPMD transactions on Coinbase's Base network.
Related: Yellow Card partners with Visa to accelerate digital dollar adoption in African countries
Original article: “Reports say Musk's X platform plans to launch payment and investment features in 2025”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
