Elon Musk continues to develop his financial projects, with the new initiative - X Money service - aiming to integrate cryptocurrencies and expand financial services.
What is X Money?
X Money is a new financial service, the development of which began after Elon Musk's acquisition of Twitter. The service aims to create an all-in-one app for financial transactions, focusing on transforming traditional money interactions.
Planned Features and Functions of X Money
X's CEO, Linda Yaccarino, states that users will soon be able to use the platform for investing and trading. According to a report from FT, the app will provide users the ability to trade and a planned release of an X-branded card.
> "You can come to X and perform all your financial transactions directly on the platform. This means being able to pay for last night's pizza, invest, or trade. This is the future." – Linda Yaccarino
Integration of Cryptocurrencies into X Money
Elon Musk expressed interest in Dogecoin as early as 2019, but recent updates about cryptocurrencies from him have been sparse. Legal obstacles with facilitating cryptocurrency payments on the platform posed challenges, but with new SEC regulations and the approval of stablecoin bills, integration seems more likely. While X Money has not yet announced cryptocurrency services, their potential future existence is implied.
The development of X Money represents an intriguing step towards creating a new financial service that could change users' approaches to financial transactions, including the possibility of cryptocurrency integration.
