Social media giant X, formerly known as Twitter, has set the stage for its upcoming payments feature by establishing a dedicated account on its platform.

This strategic move has triggered a bullish trend for Dogecoin, a popular memecoin within the cryptocurrency market.

X Payments Feature

The newly created account, X Payments, prominently features a gold verification badge and the distinctive X logo, signaling its association with the platform. Despite a lack of posts, the account has amassed over 73,000 followers as of the latest update.

This development aligns with X’s broader strategy to introduce a payment feature on its platform later this year. The company aims to roll out peer-to-peer payments that enhance its users’ utility and create new avenues for commerce. Recent reports stated that Elon Musk, the influential figure behind the platform, hinted at a potential launch of this feature by mid-2024.

Having secured licenses across multiple US states, X is positioned to facilitate peer-to-peer payments and other monetary transfers, mirroring services provided by payment giants like PayPal. These licenses come as Musk seeks to turn X into an “everything app” modeled after the likes of Tencent’s WeChat.

Dogecoin Reacts Positively

X payment feature a

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Author: Oluwapelumi Adejumo

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