X, one of the world’s most active social media platforms, continues to grow every day. After Elon Musk’s acquisition of the social media giant, discussions about its future have intensified. Musk has a vision, having purchased the domain “X” over 20 years ago for this purpose.
Major Developments at X (Twitter)
Musk aims to transform X, formerly known as Twitter, into an “everything app.” Even during the early discussions of Musk’s acquisition, there were mentions of it evolving into something similar to WeChat. With the prospect of Trump winning the elections, Musk is more determined than ever to create a social media giant that includes payment services among many features.
According to user Aeron, X Payment Services will soon be operational. Despite not having obtained licenses from all 50 states, Musk is pushing ahead with the launch. Having already secured payment service licenses in several major states, he aims to integrate in-app payments into the platform without further delay.
Cryptocurrency’s Role in X
Will cryptocurrencies be included? Not likely, at least not while President Biden maintains strong pressure on crypto regulations. However, if Trump’s administration alleviates regulatory burdens, the scenario may shift. Imagine a scenario where users can directly purchase popular meme coins within the app—a possibility that Musk could easily implement.
Considering the potential enormous profits from transaction fees, Musk is likely motivated to pursue this avenue. With cryptocurrency ETFs already entering U.S. stock markets, the launch of payment services at X could be just around the corner.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
