Elon Musk’s X reveals the first payment details – but no Dogecoin (yet)

The social media platform that is previously known as Twitter, will soon be a step closer to becoming Elon Musk’s “everything app‘With X’s long -awaited payment service that was set up later this year.

The service, called X Money, is offered through a partnership with Visa, X CEO Linda Yaccarino said on X Tuesday. The X account for the payment service of the platform invoices itself as a solution “for all your money movements”, but it does not specifically refer to Cryptocurrency.

Yaccarino did not mention Drop Dogecoin In other words, but her post referred to peer-to-peer payments and a “X portion” offered via Visa Direct. Within Crypto, portfolios are synonymous with software for managing Public and private keysWhile peer-to-peer transactions are often a core function.

The integration with Visa Direct will make direct financing possible, facilitate peer-to-peer payments via payment cards and the possibility to immediately transfer funds to a bank account, Yaccarino said.

Visa Direct was used earlier in collaboration with Crypto Firms. In October, visa announced That coinbase would immediately integrate Visa as a financing method for the bills of the Exchange, so that customers can buy crypto with a Visa paying pass or use it for redeeming.

Decrypt Reached to Visa for comment, but did not immediately receive a response.

The price of Dogecoin has risen for years on speculation around Musk’s companies. In 2022, the price of the original meme coin jumped after he floating Dogecoin as a possible payment method for Premium X subscriptions, a service called Twitter Blue at the time.

There has also been Significant speculation In the past, Musk X’s payment infrastructure will build around Dogecoin, although this has never been confirmed.

A few months after Yaccarino was appointed CEO in 2023, the Platform of Musk was permitted by a handful of states. Since then “X Payments LLC” won Money transmitter licenses of 40 different states, as well as Washington DC

Hands exchanged around $ 0.32 On Tuesday, Musk’s favorite cryptocurrency in particular fell from a three -year altitude of $ 0.48 in December. However, Dogecoin has held a significant part of his profits after the elections, whereby the price is still doubling from $ 0.16 on election day.

Musk’s budding relationship with President Donald Trump has increased the presence of Dogecoin within the mainstream, largely through references to Musk’s Department of Efficiency of the Government Cost -saving initiative, or Doge, under an abundance of media organizations.

Last week, Dogecoin’s Kabosu -Mascot hit Doge’s homepage, so that the price of the meme coin peaks. However, the profits were short -lived. Dogecoin’s price eventually fell When the Logo of De Munt was removed a day later from the website hosted by the government.

Published by Andrew Hayward