- X Payments LLC has received a money transmitter license from Nevada, becoming the 18th state to grant approval for X to offer payment services.
- X plans to introduce payment features, banking services, video/audio calling, dating, and more as part of Elon Musk’s vision to create an “everything app”.
- Though no timeline is confirmed, Elon Musk expects X payment features to go live by mid-2024, which could enable Dogecoin integration for payments on the platform.
Elon Musk‘s plan to introduce payment features on X is coming to fruition faster than expected. X, formerly Twitter, has received a money transmitter license from Nevada. With the latest license, Nevada has become the 18th US state to grant approval as the company explores offering payment features.
X Receives License in Nevada
X Payments LLC has been granted a money transmitter license to offer payment services in Nevada state by the Nevada Financial Institutions Division. Elon Musk’s X applied for money transmitter licenses in 32 states and has received 18 licenses for offering payment services on X.
Elon Musk and CEO Linda Yaccarino last year unveiled plans to introduce many features including payments, banking services, video and audio calling, dating, etc on X platform. It is part of making the platform an everything app offering users as many services as possible from a single app as part of Musk’s vision of creating a more efficient and interconnected world.
X recently received a money-transmitter license from Utah after receiving similar approvals in Wyoming, Rhode Island, Michigan, New Hampshire and Missouri. CoinGape reported that the Utah Department of Financial Institution (DFI) denied X Payments’ application to conduct related services in 2023.
X Payments Launch Timeline
Despite no confirmation of when payment services will be available on X, Elon Musk expects that payment features need to go live by mid-2024. He revealed it during a recent discussion with Ark Invest CEO Cathie Wood, raising speculations about the much-needed feature on X.
Payments on X are deemed important for Dogecoin integration on X for payments. Dogecoin‘s fan Elon Musk has hinted at the integration many times after taking over the social media platform in October 2022.
DOGE price is currently trading at $0.080, down 2% in the past 24 hours. The 24-hour low and high are $0.0802 and $0.0828 respectively. Furthermore, the trading volume has increased by 20% in the last 24 hours indicating a rise in interest among traders.