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X Launches Dedicated Payments Account, Sparking Cryptocurrency Speculation

X, Elon Musk’s “everything app” formerly known as Twitter, has recently introduced a dedicated account for its upcoming payments feature set to be launched in mid-2024. Crypto enthusiasts are now speculating on the possibility of cryptocurrency integration into the platform.

While the exact details of the payments feature remain unconfirmed, the dedicated account with a verified and X badge has intensified speculation within the crypto community. The payments feature is expected to provide in-app payment services, but it is uncertain whether it will extend support to cryptocurrencies beyond traditional fiat currencies.

Crypto researcher Mason Versluis expressed excitement about the prospect of seeing cryptocurrencies starting with “X” on the app, mentioning XRP, Stellar (XLM), and XDC (XDC). Elon Musk, known for his involvement with Dogecoin, has integrated the meme-inspired cryptocurrency for payments on Tesla’s merchandise store and occasionally mentions it on social media, making it a likely candidate if cryptocurrencies are featured on X.

Over time, the crypto community has analyzed subtle hints from Musk and X, indicating potential interest in Dogecoin for upcoming projects. The speculation intensified when X posted a meme featuring a dog answering a phone call in October 2023, prompting the Dogecoin community to interpret its significance.

On a different note, crypto researcher Tokenicer suggested a shift in X’s attention away from crypto-friendly content. He noted a reduction in payments for crypto content creators, citing a decrease in his own payouts from $40-70 to $16. However, the payout system is dependent on total impressions, leading to variations over different periods.

Since Elon Musk acquired Twitter in April 2022, there have been ongoing predictions about the platform’s evolution and potential integration of cryptocurrencies, given Musk’s historical interest and commentary on the subject. In July 2023, Musk mentioned his belief that X would eventually offer users the “ability to conduct your entire financial world.” The community is now eagerly awaiting further details on the upcoming payments feature and its potential cryptocurrency integration on the X platform.

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