Is Elon Musk going to bring crypto payments to X?

In a Monday filing, the tech billionaire’s social media platform secured the Rhode Island Currency Transmission License, which is crucial for offering such services within the state.

Dogecoin On X?

The approval, confirmed by the Nationwide Multistate Licensing System (NMLS), comes after X (formerly Twitter) began applying for money transmitter licenses in every required U.S. state last month.

In the United States, money transmitters are a subcategory of money services businesses (MSBs) and help facilitate fund transfers between disparate locations and across international borders.

As peer-to-peer payment technology, cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) are known for being open, permissionless, and borderless payment systems. They’re also a point of casual interest for Elon Musk, who occasionally remarks about the industry and playfully tweets about his favorite cryptocurrency, Dogecoin (DOGE), on his platform.

Specifically, a currency transmission license is required for offering crypto wallet services, which allow users to store, send, and receive digital assets. While anyone can technically own a personal crypto wallet, many may prefer the ease of use and peace of mind that come with custodial wallet solutions.

Were X to implement crypto payments, it would expand on Musk’s mission to make X into an “everything app” where users can conduct their “entire financial world.”

It would also expand on a growing trend of communications platforms integrating with crypto payment technology, and vice versa. Telegram, for instance, has integrated seamless Bitcoin and USDT payments directly into its messaging app, while Coinbase wallet has now introduced encrypted decentralized messaging

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