X Money, a financial service from the social media platform X (formerly Twitter), has released its first look. X Money’s launch is a step towards transforming X into a financial super-app, as well as speculations about X and crypto integration.
A first look into X Money is shared by actor William Shatner in an X post on March 4. Shatner shared screenshots of X Money’s interface. Features include Account, Rewards, and Activity. Users can send, request, and even deposit funds directly to X Money.
Teslaconomics then predicted X Money will be integrated with crypto.
“Then, there will be high-yield savings, you can invest, you can get loans, have money market accounts, maybe even treasury access, cool smart cashtags that let you see live stock prices in your timeline and execute trades seamlessly, crypto integration, potentially full asset management… the list goes on and on… Elon literally said this is meant to be the central source of ALL monetary transactions.”
Elon Musk, billionaire and X’s owner, reposted Teslaconomics’ prediction. This implies that he confirms these predictions may be realized in the future.
What crypto assets might be integrated to X? Early speculations suggested Dogecoin or XRP. However, market analyst Chamath Palihapitiya argues that X Money will accelerate stablecoin adoption. He also believes that profits from this system will flow to the users instead of the platform.
Stablecoin payments are growing in use. Participation from major companies such as Visa, Stripe, and Meta continues to increase. It is very likely that X Money will soon join the race.
What are stablecoins and how do they work? Find out in the article What is a Stablecoin? Definition, Types, How It Works, and Examples.
