Elon Musk confirmed in response to a social media post showing a dollar sign icon on podcast giant Joe Rogan's profile that X is preparing to launch a remittance feature in its X Payments service.
The feature is part of Musk's strategy to transform X into a "everything app" similar to WeChat. X Payments LLC has obtained remittance licenses in most US states (except New York), laying the foundation for integrating payment services on the platform. The planned peer-to-peer transaction function is designed to increase user engagement by enabling direct remittances within the platform.
While details about potential crypto asset integration have not been confirmed, given Musk's long-standing support for Dogecoin, the community speculates that the cryptocurrency is expected to be included.
Earlier in September, Musk's X wholly-owned subsidiary X Payments obtained a money transmission license in Oklahoma, and has so far obtained money transmission licenses in 37 US states. It is reported that X Payments aims to seek licenses in all 50 US states and hopes to launch payment services across the United States later this year.