An “X Payments” account was seen on the social media platform on Jan. 19 as Elon Musk’s company continues to bag money transmitter licenses across the United States.

While unconfirmed, the development would likely align with Musk’s vision for X, which he has repeatedly touted as a nexus for global financial activities since his $44 billion takeover in 2022. 

Crypto analysts and speculators have pointed to digital assets being part of these plans, although Musk has noted that fiat transactions will primarily command engineering resources.

The platform has already filed for several money-transmitter licenses and received approval in some states, such as Utah. Musk’s social giant also teamed up with the exchange eToro to enable crypto and stock trading from the app. 

Meanwhile, X is rolling back some web3 features as crypto.news previously reported. NFT profile photos introduced shortly after Musk acquired the company have been scrapped, and the option to upload blockchain-based digital collectibles no longer works.

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Author: Naga Avan-Nomayo

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