X to Launch Payments Feature: Will Dogecoin Finally Get Its Day?
Elon Musk confirms X will introduce a limited-access beta payments feature soon, but no mention of Dogecoin integration yet.
X to Enter the Payments Arena
Elon Musk has officially confirmed that X, formerly Twitter, is preparing to roll out a payments feature. The announcement, initially hinted at by X CEO Linda Yaccarino in January 2025, was reiterated by Musk himself on May 25th.
Musk emphasized the cautious approach being taken, stating, "This will be a very limited access beta at first. When people’s savings are involved, extreme care must be taken." The planned functionality includes peer-to-peer payments via debit card with instant transfers to bank accounts.
The Dogecoin Question
Despite Musk's well-known affinity for Dogecoin (DOGE), the announcements have so far failed to mention any integration of the meme coin into X's payment system. This has left many crypto enthusiasts disappointed, especially given past speculation surrounding the U.S. government's tongue-in-cheek "Department of Government Efficiency (DOGE)."
X's Evolution Under Musk
Since acquiring Twitter for $44 billion in October 2022 and rebranding it to X in July 2023, Musk has implemented significant changes. Most recently, his AI company, xAI, acquired X in an all-stock transaction, valuing the platform at $33 billion.
Key Takeaways:
- X is launching a payments feature, starting with a limited beta.
- The initial rollout will focus on traditional debit card and bank transfers.
- There's currently no indication of Dogecoin integration, despite community hopes.
Investment Considerations
As always, investors should consider their risk tolerance and investment timeline before making allocation decisions. Bitcoin remains a volatile asset despite increasing institutional adoption.
This article is for informational purposes only and should not be considered investment advice. Always consult with a qualified financial advisor.