X launches dedicated Payments account, crypto community speculates

Elon Musk's "everything app" X (formerly known as Twitter) has created a dedicated account for its upcoming payments feature, fueling the crypto community to further speculate over the possibility of whether cryptocurrencies will be implemented.

There is anticipation that the X app will introduce in-app payment services by mid-2024. However, there has been no confirmation whether the feature will support payments beyond traditional fiat currencies. 

Related: Elon Musk’s X moves closer to crypto payments with new state license

While no posts have been made on the account, it holds the gold badge, indicating it is a verified organization. Additionally, it carries the X badge, signifying it is associated with X.

However, several crypto commentators are pondering the inclusion of crypto in the payment feature.

In a post on X, crypto researcher Mason Versluis shared with his 169,000 followers his excitement about the possibility of seeing crypto that start with "X," such as XRP ( XRP ), Stellar ( XLM ), and XDC (XDC), on the app.

So X is building "X Payments"

It's only right they enable the X coins... $XRP $XLM $XDC $XYO etc...

I wanna see a MASSIVE crypto integration from X

Change the world Elon, set fire to the SEC + banks with this play

— MASON VERSLUIS (@MasonVersluis) January 20, 2024

Meanwhile, crypto researcher Tokenicer informed his 36,200 followers that he believes X has shifted its attention away from crypto-friendly content. Last year, X implemented a revenue-sharing system for ads, allowing content creators to monetize their content within the app.

“Feels like X has cut the payments for crypto content lately,” he claims.

He explains that he “was getting $40-70 cheques a few months ago just got one for $16.”

However, the payout system is based on the amount of total impressions content creators accumulate, so is likely to vary heavily between periods.

Meanwhile, Musk has incorporated DOGE ( DOGE ) for payments on Tesla's merchandise store , along with occasionally mentioning it on social media. Many speculate that it's the most likely crypto to be included on X, if any were to be featured.

I asked Grok @elonmusk pic.twitter.com/49tK9t9tT0

— Ɖｏｇｅ_Ａｌｂａｎｉａ (@doge_albania) January 20, 2024

Since Musk acquired Twitter in April 2022, there has been many predictions about the pace at which it will evolve into a completely new platform and the potential integration of crypto, given his ongoing commentary on throughout the years.

In July 2023, Cointelegraph reported that Musk believes eventually X will be able to offer people the “ability to conduct your entire financial world.”

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