Musk confirmed that X is preparing to launch a remittance function in its X Payments service
On November 24th, Elon Musk confirmed in response to a social media post by podcast giant Joe Rogan that X is preparing to launch a remittance feature in its X Payments service. This feature is part of Musk's strategy to transform X into a "super app" similar to WeChat. X Payments LLC has obtained remittance licenses in most states (except New York), laying the foundation for integrating payment services on the platform. The planned peer-to-peer transaction function aims to increase user engagement by enabling direct transfers within the platform. Although details about potential integration of crypto assets have not been confirmed, given Musk's ongoing support for Dogecoin, it is speculated that this cryptocurrency may be included. In September, Musk's wholly-owned subsidiary XPayments obtained a money transfer license in Oklahoma and has so far accumulated money transfer licenses from 37 states in the US. It is reported that the goal of X Payments is to obtain permission in all 50 states and hopes to launch payment services across the United States later this year.
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