Elon Musk’s social media platform, X, will soon integrate various financial services, allowing users to make payments and investments directly within the application.
In a recent interview with the Financial timeLinda Yaccarino, CEO of X [their] All life on the platform ”, from the sending of money to the management of investments.
The company also plans to launch a brand X credit or debit card, potentially later this year.
The incursion of X in financial services is hardly surprising, since Musk has already confirmed Beta test for money x Payment and banking application.
In response to an article on social networks of May 25, Musk said “Extreme care must be taken” in the pilot phase, because “people’s savings are involved”.
The official X Money account teases a launch in 2025.
Yacarrino told Financial Times that Money Payment’s payment application launched for the first time in the United States, appealing it to an “whole commercial ecosystem and a financial ecosystem”.
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No mention of crypto in x money
Neither Yaccarino nor Musk have confirmed if crypto payments will be part of X’s financial ecosystem, despite the well -known support of Musk for Dogecoin (DOGE), the popular on the dog’s theme was launched in 2013.
In March 2024, Musk said Doge Could be used to buy Teslas “at some point”, although it has given no calendar. Crypto users have taken this as a sign that the entrepreneur could soon deploy the cryptographic payment support in all his companies.
While X remained silent on the potential integration of crypto payments, other companies are progressing with digital asset payment solutions.
As reported by CintelelegraphVisa promotes the adoption of Stablecoin in Africa thanks to its partnership with Yellow Card Financial, a payment processor that has facilitated more than $ 6 billion in transactions since 2019.
The main American institutions have also expressed their interest in entering the payment space for cryptography. JPMorgan Chase recently made a brand request For its JPMD deposit token, which supports various services related to the crypto.
On Tuesday, Jpmorgan said he JPMD transactions pilot On the basic Coinbase network.
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