Leak Suggests Anticipated X Payments System May Soon Launch in the US
An apparent leak of the latest software code behind Elon Musk’s social media platform, X, has sparked rumors that X Money — its anticipated payments system — may soon launch. The news has been met with both excitement and skepticism, as some speculate about the potential impact on the cryptocurrency market.
Background: Securing Licenses Across the US
X has been working diligently to obtain money transmitter licenses across the United States for X Money. As of now, they have successfully secured licenses in 39 states. This development is significant, as it paves the way for a potential launch of the payments system in these regions.
Leaked Code Fuels Speculation About Launch Timeline
A purported screenshot of the latest code shows the line: "X Money is not available in your state." Some observers, including American entrepreneur Alex Finn, have interpreted this as a sign that X Money may launch in the US without approval from all 50 states. This could have significant implications for the platform’s users and the broader cryptocurrency market.
Potential Role of Cryptocurrencies in X Payments
X Money would allow X users to tip content creators on the platform, and some speculate that cryptocurrencies could play a role given Musk’s previous openness to Bitcoin (BTC) and Dogecoin (DOGE) payments in his other businesses. Alex Finn, an American entrepreneur and X Spaces contributor, commented: "X payments in one way or another will support cryptocurrency… Crypto will probably be a good amount of rails for [X] payments."
CEO Linda Yaccarino’s Comments on X Money Launch
In a December 31 post on X, CEO Linda Yaccarino confirmed that the social media platform would launch X Money in 2025. However, it is unclear whether an X Money launch may be imminent, and the legitimacy of the source code leaked by MacRumors contributing researcher Aaron Perris has not been confirmed.
Regional Launch: First in Licensed States
If it is true that X Money will soon launch, it would first become available in the 39 states where X has obtained a money transmitter license. This means that users in Alaska, Delaware, Hawaii, Indiana, Massachusetts, Minnesota, Montana, New York, Vermont, Washington, and Wisconsin would not have immediate access to the payments feature.
Speculation About Dogecoin Support
Musk’s penchant for Dogecoin (DOGE) has led industry pundits to speculate whether the meme coin would be supported on X Money. This is not entirely surprising, given Musk’s electric car manufacturing firm, Tesla, supports DOGE for merchant purchases and holds $1.1 billion worth of Bitcoin (BTC), according to Arkham Intelligence data.
Implications and Speculation
The potential launch of X Money has sparked both excitement and concern within the cryptocurrency community. Some see this as a positive development, which could lead to increased adoption and mainstream recognition of cryptocurrencies. However, others are more cautious, given the regulatory hurdles that must be overcome before such a system can be launched.
What’s Next?
As the situation unfolds, it will be essential to monitor developments closely. Will X Money indeed launch in 2025, or was this a premature leak? Only time will tell, but one thing is certain: the potential impact on the cryptocurrency market and beyond could be significant.
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