As stated by an official blog entryElon Musk’s social media platform X, formerly known as Twitter, will launch peer-to-peer payments this year.
As stated by an official blog entryElon Musk’s social media platform X, formerly known as Twitter, will launch peer-to-peer payments this year.
He Paymentsaccording to X, it would unlock “more utility for the user and opportunities for commerce” as the platform strives for a transformative 2024.
Dogecoin is back in the spotlight as X owner Elon Musk, who has often promoted DOGE, suggests that the dog-themed cryptocurrency was better suited for payments than Bitcoin (BTC).
Early last year, speculation arose that X was developing a system to allow payments through the social media platform.
According sources At the time, Musk intended it to be “primarily” for fiat money, with the option to add cryptocurrencies later.
However, it is still unknown how the peer-to-peer payments that X intends to implement will work, as exact details on how the payments will work or when they will officially launch were not available at the time of this publication.
From all indications, it seems that cryptocurrencies will not be left out. Last year, X developed a tool in collaboration with eToro that allows users to access cryptocurrencies, stocks and other types of financial assets.
Musk has been a big supporter of DOGE; Dogecoin saw a massive price surge after Musk acquired Twitter (now X).
In early 2023, Tesla allowed Dogecoin as payment for its goods; Musk’s perfume brand also accepted Dogecoin payments.
At the time of writing, Dogecoin was trading at $0.079.
