Elon Musk will allow cryptocurrency operations on Twitter-X next year

Elon Musk’s Platform X will launch its own payment service in mid-2024. The company is currently waiting for licenses to provide financial services in the fiat and cryptocurrency markets. The billionaire spoke about this on a podcast with the head of ARK Invest Katie Wood.

According to Musk, payment integration was delayed due to bureaucratic processes. He admitted that X was «a little late» in submitting all the necessary documents for the license. However, he is unaware of any potential «problems» that could lead to the application being rejected.

The cryptocurrency community has repeatedly expressed wishes for the integration of Dogecoin and bitcoin meme coins into the X payment system. However, Musk has previously noted that initially, the payment option will be aimed exclusively at fiat currencies, although it will provide for the possibility of integrating digital assets in the long term.

X’s license application became known in January this year. At the same time, the social network started developing the corresponding software.

Musk plans to turn X into a «super app «with paid verification and a financial ecosystem. Rumors about the integration of Dogecoin as a payment method emerged after the presentation of updates in November 2022. The billionaire himself made a corresponding proposal back in April.