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X is preparing to launch a money transfer feature as part of its X Payments service, owner Elon Musk confirmed in response to a social media post showing a dollar sign icon on podcaster Joe Rogan’s profile.

This photo was posted by @elonmusk on 𝕏.

My speculation is that the “$” button is used to send money to someone as part of X Payments! pic.twitter.com/QTG4zdT9PQ

— Nima Owji (@nima_owji) November 22, 2024

The feature is part of Musk’s strategy to transform X, formerly Twitter, into an “everything app” similar to China’s WeChat, combining messaging, social media and financial services.

X Payments LLC has secured money-sending licenses in most US states except New York, laying the foundation for the integration of payment services on the platform.

The planned peer-to-peer transaction capabilities aim to increase user engagement by enabling instant money transfers within the platform.

While details about the potential integration of crypto assets remain unconfirmed, speculation about Dogecoin’s inclusion continues given Musk’s past support for the digital currency.

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