Elon Musk is planning to launch a payment service for X (formerly Twitter), but it won't involve Dogecoin (DOGE) or crypto in any way.
Known as a Dogecoin supporter, Elon Musk is working to turn X into an app for everything. In this context, X's payment service is also on the agenda.
X Payments will be launched in the coming period. Documents regarding this payment service may disappoint crypto investors and DOGE enthusiasts.
Dogecoin (DOGE) is not included in Elon Musk's X
It was recently reported that X will not use Dogecoin (DOGE) or any cryptocurrency in its payment services.
According to a report published by Bloomberg, new regulatory documents showed that Musk is moving to launch X Payments. These documents did not include any mention of cryptocurrencies.
The documents mentioned the plans of a subsidiary called X Payments, whose money transmitter license has been approved in 28 states and is working on licensing in the remaining states. X Payments will offer users a Venmo or Zelle-style payment service.
Crypto enthusiasts have long expected Dogecoin (DOGE) to be among X Payments' payment instruments. Especially on the day an X account belonging to X Payments was created, DOGE surged.
It was disappointing that X Payments did not include cryptocurrencies. Nevertheless, it seems likely that the payment organization will integrate cryptocurrencies in the future.
In a recent interview, Yaccarino stated that X's payment platform is coming soon and that the company will start operations in the US in an effort to build an ecosystem.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk and readers should do their own research when making decisions.