Elon Musk’s social media social media platform, X, is about to include various financial services, allowing users to make payments and investments directly within the app.
In a recent -only interview with Financial periodsX CEO Linda Yacarino said the estimated 600 million platform users will eventually “will transact (their) entire life to the platform,” from sending money to managing investments.
The company also considers launching an X-branded credit or debit card, which is potential next year.
X’s Foray on financial services is not surprising, since Musk has already confirmed Beta testing for x money Payment and banking app.
In response to a May 25 post on Social Media, Musk Says “Intense care should be done” in the pilot stage because “people’s savings are involved.”
The official X Money Account is teasing 2025 launch.
Yacarrino told the Financial Times that the X Money Payment App was first launched in the US, calling it “Full Commerce Ecosystem and a Financial Ecosystem.”
Related: Elon Musk says Xchat’s XChat feature to have ‘Bitcoin-style encryption’
No more to mention crypto in x money
Nor The Yacarino or Musk has not confirmed whether crypto payments will be part of the X’s Financial Ecosystem, despite Musk’s prominent support for Dogecoin (Doge), the popular memecoin themed dog was launched in 2013.
In March 2024, Musk told Doge Can be used to buy Teslas “at some point,” even if he didn’t give a timeline. Crypto users have taken it as a sign that the entrepreneur can roll out of crypto payment support to all his companies.
While X has remained silent on the potential integration of crypto payment, other companies are advancing digital asset payment solutions.
Number Cointelegraph reportedThe visa promotes Stablecoin adoption in Africa by cooperating with the Yellow Card Financial, a payment processor that has facilitated more than $ 6 billion transactions since 2019.
The main US institutions have also shown interest in entering the crypto payment space. JPMorgan Chase recently filed a trademark application For the JPMD deposit token, which supports a variety of crypto -related services.
On Tuesday, JPMorgan said JPMD pilot transactions on the base network of Coinbase.
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