TLDR:
- CEO Linda Yaccarino of X has confirmed that 2025 will see the rollout of X Money, accompanied by the debut of X TV and enhanced Grok AI functionalities, all part of transforming X into a multifaceted 'super app.'
- With licenses in hand across 39 US states, X hints at an incremental, state-focused release strategy for X Money, as opposed to launching nationwide all at once.
- Hints from leaked code suggest that X Money's deployment is on the fast track. However, X remains tight-lipped about confirming the accuracy of these leaks.
- There's ongoing speculation about cryptocurrency being a part of X Money, especially considering Elon Musk's previous engagements with digital currencies like Bitcoin and Dogecoin through Tesla.
- Positioning itself as a formidable contender against titans like PayPal, X is poised to offer a unique blend of social engagement, payment transactions, and additional functionalities.
Once recognized as Twitter, the social media entity now known as X is advancing plans to roll out X Money in 2025, with the company already securing the necessary money transmitter licenses in 39 states to pave the way for its payment functions.
Linda Yaccarino, the CEO, officially announced X's plan to launch its payment system in 2025 within a message posted on the platform on December 31, outlining a broader intention that includes unveiling X TV and boosting the Grok AI bot.
In 2024, X revolutionized the global landscape, and now, you become the storyteller!
The year 2025 promises to tether users in previously inconceivable manners through X TV, X Money, enhanced Grok, among other innovations.
Buckle up. Happy New Year!š„
ā Linda Yaccarino (@lindayaX) December 31, 2024
There are newly surfacing signs that indicate the progression of the payment system's rollout. Source code disclosed by Aaron Perris, a contributor from MacRumors, includes an alert stating 'X Money is not available in your state,' shedding light on the technical groundwork supporting the gradual state-by-state launch. Certain states will initially miss out on the launch as X has not yet secured the necessary licenses. This list encompasses Alaska, Delaware, Hawaii, Indiana, Massachusetts, Minnesota, Montana, New York, Vermont, Washington, and Wisconsin, as analyzed by entrepreneur Alex Finn.
Expanding into payment solutions marks a pivotal aspect of Elon Musk's grand vision for X, aiming to morph the platform into a versatile 'everything app,' ever since his $44 billion acquisition in 2022 which targets merging social media, commerce, and other utilities in one ecosystem.
X's foray into fintech began in 2024, announcing a peer-to-peer payment avenue. Although initial deployment experienced setbacks, progress has been made in accruing regulatory approvals across diverse regions.
Significant states such as California, Illinois, and Virginia are part of the territories where X has acquired money transmitter licenses. This positions X to vie with established giants like PayPal, thrusting financial transactions into smooth user experiences akin to sharing posts online.
A notable element of X Money is enabling users to tip content creators directly. This can dramatically transform how creators monetize their efforts on X.
Cryptocurrency's potential role in X Money remains a topic of conjecture. Despite no formal confirmation from the platform, Elon Musk's past associations with digital currencies in his ventures have fueled this speculation.
Crypto Involved?
Tesla, under Musk's leadership, facilitates merchandise purchases and holds Bitcoin worth $1.1 billion, as indicated by Arkham Intelligence. This foundation leads some to assume that X Money might integrate cryptocurrency support.
During a discussion hosted on X Spaces, Alex Finn asserted his view that 'X's payment systems will inevitably accommodate cryptocurrencies to some extent,' highlighting its efficacy for currency movement. He pointed out its prospective role as essential architecture within X's payment framework. accepts Dogecoin Brian Armstrong, CEO of Coinbase, has proposed the incorporation of USD Coin (USDC) within X's payment scheme, underscoring its utility for transactions. However, there hasn't been any commentary or confirmation from X regarding these proposals.
With the presence of leaked coding and ongoing license acquisitions, X shows tangible progress towards its impending payment system launch. Yet, the legitimacy of this leaked source code remains unconfirmed, leaving aspects of X Money's features somewhat veiled.
X's regulatory outlook suggests it may advance with X Money's deployment in states where licenses are finalized, rather than holding off until approvals are universal. This pathway could facilitate swifter market penetration while pursuing licenses in the remaining states.
The payment initiative forms a facet of X's extensive ambitions for 2025, with Yaccarino articulating a future where users can 'connect in unimaginable ways.' Such developments position X to transcend its social media origins, stepping into a realm of expansive digital service offerings.
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