X Debuts Dedicated Payments Account, Crypto Reacts

Prominent social media platform X, formerly known as Twitter, has created a dedicated account for its upcoming payments feature that the digital asset community has been waiting for quite some time. 

Billionaire entrepreneur Elon Musk’s “everything app” seeks to introduce in-app payment features that would support multiple payment methods. However, it is unclear if cryptocurrencies are part of the Tesla co-founder’s vision. 

X Sets Up a New Payments Account

The new social media account created by X has attracted the attention of the digital asset sector, despite the lack of confirmation that the new feature will support cryptocurrencies. 

Currently, the account features zero posts and holds a gold badge, confirming that it is a verified organization. Moreover, it also carries an X with it, confirming its association with the social media platform. 

Crypto Commentators Weigh In on the X Account

Prominent crypto researcher Mason Versluis shared with his 169,000 followers his excitement about the event, stating the possibility of integrating cryptos that start with “X,” such as XRP (XRP), Stellar (XLM), and XDC (XDC), into the application.

It is important to note that Twitter rebranded to X back in July 2023 after Musk purchased the firm and changed its status from public to private. 

Musk and Cryptocurrencies

Musk has been a strong supporter of digital assets, recently announcing that his firm Tesla would accept dogecoin as payment for merchandise on a test basis, as per Reuters.

Changing Views

Back in February 2023, Musk gave his developers instructions to design the platform’s payment services in a way that would enable the addition of crypto capabilities in the upcoming years.

However, in another statement, the billionaire stated that he has no intention to introduce crypto tokens on X. He also addressed the issue of fraud tokens like X (X) and TwitterDAO (TWITTER) falsely claiming connections to the social media platform.