The recent launch of the XPayments page has generated a wave of anticipation and speculation in the crypto community.
The new payments functionality of X (formerly known as Twitter) has fueled rumors about possible cryptocurrency integration, generating palpable excitement on Crypto Twitter.
Although no official details have been provided, the crypto community is optimistic about the inclusion of cryptocurrencies in the new feature.
The @XPayments page just launched 👀
No details yet, but in the past Elon Musk said that:
– the payments will be peer-to-peer
– X will never launch a token
— Quinten | 048.eth (@QuintenFrancois) January 21, 2024
Elon Musk, the visionary behind X, has previously expressed his inclination towards cryptocurrencies, further fueling speculation.
Musk has stated that payments will be peer-to-peer, suggesting a direct transactional model.
The main unknown lies in which cryptocurrencies could be integrated into XPayments
Although nothing has been confirmed, the recent rise in the price of Dogecoin ($DOGE) during the launch of the @XPayments page has fueled speculation about the possible inclusion of this cryptocurrency.
It should be noted that Elon Musk has shown public interest and support towards Dogecoin in the past, even integrating it as a payment option in the Tesla merchandise store.
Despite the lack of explicit details from X and Elon Musk on whether the new feature will exclusively support traditional fiat currencies or include cryptocurrencies, the prevailing sentiment is positive.
The crypto community is confident that the new feature will support digital assets, and this confidence is based on Elon Musk’s pro-crypto inclination and previous experiences, such as the integration of Dogecoin.
It is relevant to note that X has obtained licenses in several US states to facilitate peer-to-peer payments.
Additionally, a partnership has been established with eToro, allowing users to purchase digital assets on the social platform through plugins.
Given X’s magnitude as a social media giant with billions of users, the eventual integration of cryptocurrencies into its long-awaited payments feature could have a significant impact on cryptoasset adoption and permanently reshape the industry.
The crypto community is keeping an eye on the development of X’s new payments functionality, hoping that cryptocurrency integration becomes a reality.
The influence of Elon Musk and the mention of Dogecoin as a possible candidate have raised expectations, and additional details about this initiative are set to generate continued interest in the coming months.