- Elon Musk revealed during an X Spaces talk that he expects to launch payments on X by mid-2024, but bureaucratic delays have slowed the rollout.
- Musk explained that X had been late in submitting money transmitter license paperwork across the US, though he didn’t foresee major obstacles.
- Musk dampened hopes for crypto integration on X, saying he hardly thinks about crypto now. He’s more focused on making X’s AI the “funniest” available.
Elon Musk revealed during a recent X Spaces talk that he expects to launch payments on X by the middle of 2024. The CEO of Tesla and SpaceX said that bureaucratic delays had slowed the rollout, but he didn’t foresee any major obstacles to launching the feature.
Money Transmitter Licenses Still Pending
Musk explained that X had been “a bit late” in submitting all of the necessary paperwork for money transmitter licenses across the United States. While he said he wasn’t aware of any “showstoppers,” the licenses still need to be approved before payments can go live.
Hopes For Crypto Integration Dampened
Many in the crypto community had hoped that X would integrate cryptocurrencies like Bitcoin and Dogecoin into its payments system. However, Musk said he hardly spends any time thinking about crypto these days.
While Tesla still holds Bitcoin on its balance sheet, and accepts Dogecoin for some purchases, Musk’s comments suggest that crypto payments on X are now unlikely.
Musk Focused On Making X’s AI The “Funniest”
On the topic of AI, Musk said a key goal was making X’s Grok system the “funniest” AI available. He wants users to get entertaining responses when asking Grok for a “vulgar roast.”
Overall, Musk provided updates on his plans for payments and AI on X during the talk. While crypto integration seems less likely, the long-awaited payments feature should launch by mid-2024 if all goes smoothly.
