Elon Musk is reportedly launching a payment system called X Money, which aims to transform the social media platform X (formerly known as Twitter) into an all-in-one app combining social media, payments, and potentially cryptocurrency. The app, expected to be launched in 2025, will also include features like X TV and Grok, Elon's AI project. X recently hit one billion users, providing a significant user base for the payment system. While the integration of cryptocurrencies, such as Bitcoin and Dogecoin, is expected, there is also discussion about incorporating stablecoins like USDC. However, obtaining a money transmitter license in New York is essential for operating in one of the world's largest financial markets. The move comes as miners have increased the use of renewable energy for Bitcoin mining, potentially motivating Musk to reintroduce Bitcoin payments for Tesla through X Money. The timing coincides with the return of Donald Trump to office, who is reportedly supportive of cryptocurrencies. Overall, X Money has the potential to revolutionize everyday transactions by introducing crypto into a major social platform.



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