X Payments

<figure>
 <figcaption>
  Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<p lang="en-GB" xml:lang="en-GB">An insider from the X and Dogecoin teams known on the X platform (formerly famous as Twitter) as “DogeDesigner” (@cb_doge) has published a tweet about the much-anticipated launch of “<a href="https://u.today/dogecoin-dev-breaks-silence-on-doge-payments-in-x" rel="noopener noreferrer nofollow">X Payments</a>” and the effect it may have on the payments industry, and conventional banks in particular.</p>
<h2 id="dogedesigner-s-tweet-ignites-doge-community">"DogeDesigner's" tweet ignites DOGE community</h2>
<p lang="en-GB" xml:lang="en-GB">This message triggered an enthusiastic reaction from the Dogecoin community since they expect DOGE to be adopted as one of payment options on this popular platform.</p>
<p lang="en-GB" xml:lang="en-GB">The tweet went on, saying that X Payments will surpass and leave banks behind in the same way as another of Elon Musk's companies – Tesla – has left behind legacy auto and had a massive impact on it.</p>
<blockquote>
 <p lang="en" dir="ltr">"𝕏 Payments" will do to Banks, what "Tesla" did to legacy auto.<a href="https://t.co/wTOHZlw5aU" rel="noopener noreferrer nofollow">pic.twitter.com/wTOHZlw5aU</a></p>— DogeDesigner (@cb_doge) <a href="https://twitter.com/cb_doge/status/1790872710278730240?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 15, 2024</a>
</blockquote>
<p lang="en-GB" xml:lang="en-GB">While the X Corporation continues to <a href="https://u.today/dogecoin-doge-payments-soon-elon-musks-x-secures-three-new-licenses-in-key-us-states" rel="noopener noreferrer nofollow">secure licenses for payment processing</a> in new U.S. states, the payment service on X is expected to launch by the end of this year. Still, it remains unclear whether the technical entrepreneur will indeed implement cryptocurrencies, or solely DOGE, on X.</p>
<p lang="en-GB" xml:lang="en-GB">Prior to purchasing the platform for $44 billion in October 2022, Musk stated many times that integrating Dogecoin payments on Twitter would be a good idea. By that time, BTC and ETH tipping had already been enabled by Jack Dorsey (the CEO back then) and Musk tried to persuade the public that DOGE is much better suited for payments than Bitcoin.</p>
<h2 id="elon-musk-native-crypto-ripple-and-sec">Elon Musk, native crypto, Ripple and SEC</h2>
<p lang="en-GB" xml:lang="en-GB">Several times last year, Elon Musk made it “clear,” and then “super clear,” that neither X nor any of his other companies intend to release a native cryptocurrency. Perhaps this was announced out of fear of having to deal with the SEC regulator. Musk has already had to clash with it in court and won a case about <a href="https://u.today/ripple-cto-congratulates-elon-musk-on-beating-sec-by-taking-xrp-private-at-420" rel="noopener noreferrer nofollow">"taking Tesla private at 420."</a></p>
<p lang="en-GB" xml:lang="en-GB">However, the Securities and Exchange Commission has labeled only Bitcoin a commodity, and over the past few years, it has been pestering crypto companies and exchanges, claiming that they trade altcoins, which are nothing but unregistered securities. Ripple Labs has been fighting in court against the SEC’s charges since December 2020 about whether XRP is an unregistered security or not.</p>
<p lang="en-GB" xml:lang="en-GB">In July last year, Judge Analisa Torres rules that XRP sales on the secondary markets do not qualify as security sales.</p>

DOGE Community Hotly Anticipates Payments Launch on X

Table of Contents

U_Today

Other articles published on May 16, 2024

Billionaire Friedland Slams Bitcoin's Energy Use

Morgan Stanley Reveals $270M Bitcoin ETF Investments in US Regulatory Filing

Michael Saylor: Senate Wants Bitcoin

Worldcoin's World Chain Will Prioritize Improving Scalability For Clients

GameStop Price Prediction: Keith Gill Impact Wanes As GME Plummets 46% And This Solana Meme Coin ...

Solana DEX Drift Launches Airdrop with 120 Million Tokens

Join our free newsletter for daily crypto updates!