Since taking over Twitter, Elon Musk has been working to introduce payment features, continuously obtaining money transmitter licenses in multiple U.S. states, with approvals in 39 states so far, all related to a company called "X Payments LLC".
Further Reading: X Payments Coming Soon? Musk Unexpectedly Creates "@XPay" Account, Dogecoin Jumps 13%
X Code Triggers Discussion of Upcoming X Money
Today, freelance researcher for MacRumors, Aaron Perris, has leaked X code that has sparked rumors of the imminent launch of "X Money" (the name of the X payments system).
According to the code snippet shared by Aaron Perris, it states:
You can still view your balance, but all operations are currently disabled until X Money is available in your state.
X Money is not available in your state.
This led Aaron Perris to suggest that X seems to be planning to launch X Money in some U.S. regions before obtaining approvals in all 50 states.
Will X Payments Support Cryptocurrencies?
Entrepreneur Alex Finn expressed support for this speculation. He said the newly exposed X code suggests that X Payments may launch today, allowing creators to start earning more revenue immediately.
If X Payments is enabled in your state, you'll have the opportunity to earn tips and revenue through content and Spaces.
This is a huge win for creators on the X platform.
If true, X Money will first launch in the 39 states where X has obtained money transmitter licenses. Therefore, Alaska, Delaware, Hawaii, Indiana, Massachusetts, Minnesota, Montana, New York, Vermont, Washington, and Wisconsin, which have not yet obtained licenses, will not be able to support it immediately.
Although the requirements, privileges, and approvals of money transmitter licenses vary across U.S. states, these licenses typically allow companies to send, receive, and transfer funds for customers domestically and internationally, and also enable foreign exchange, such as converting foreign currency to USD, as well as issuing prepaid cards, which includes both fiat and cryptocurrencies.
Alex stated in his X Spaces that "X Payments will support cryptocurrencies in some form." He added that this is the fastest way to transfer money and noted:
Cryptocurrencies are likely to become the core payment rails for (X) Payments.
CEO Confirms X Money Launch in 2025
Although the validity of the code and the imminent launch of X Money have not been officially confirmed by X, X CEO Linda Yaccarino tweeted on the 1st that X will launch X Money in 2025.
In 2024, X changed the world. Now, you are the media!
In 2025, X will connect with you in unprecedented ways - X TV, X Money, Grok, and more.
This statement adds more anticipation for X to launch payment features this year.
Dogecoin Rises 3%
Whether cryptocurrencies will be integrated remains uncertain, but if supported, Dogecoin (DOGE), which Musk has long supported, is speculated to be the primary choice. Additionally, Musk recently changed X's profile picture to PEPE, leading to speculation that PEPE may also be supported. According to CoinGecko data, DOGE has risen 3.1% in the past 24 hours, currently trading at $0.3412, while PEPE has risen 4.7%, currently at $0.00002051.
