Musk's X Payments has entered the testing phase, but Dogecoin payments remain fraught with uncertainty
In the shadow of rumors about leaked code, Elon Musk has quietly advanced X Money to the Beta testing stage. Despite hinting for years at the introduction of Dogecoin as a payment method, this feature has yet to become clear.
On May 25, Musk revealed in response to fans promoting the 'X Money is coming soon' posts that to ensure the safety of user funds, the upcoming X Money beta will impose strict access restrictions. This move marks his determination to demonstrate the highly anticipated payment feature in his 'universal application' to real-world users.
X Money aims to integrate wallet and banking services similar to WeChat's payment business within Twitter, with plans to expand its launch in the United States later this year. Initially limited to a few thousand testers, engineers will monitor balance and transfer performance under real pressure.
Currently, X Money has obtained money transfer licenses in 41 states and Washington D.C., excluding New York, due to the state's requirement for cryptocurrency activities to obtain a complex BitLicense.
Earlier this month, two Manhattan lawmakers protested X Money's certificate application with the New York Department of Financial Services, questioning Musk's ability to manage consumer funds.
On the other hand, California issued a license to Visa at the end of 2024, making it the first network partner of X Money. The partnership with Visa also marks the beginning of a series of significant announcements in 2025.
For cryptocurrency market users, whether Musk will incorporate digital assets like Dogecoin into X Money remains an unresolved issue.
Currently, X Money has not provided any related hints, and this silence aligns with its statement in January, but contradicts speculation about Musk's years-long push for the popularization of Dogecoin.
In the future, the fate of Dogecoin payments will depend on the transparency of regulation and Musk's risk appetite. But with the beta version entering the testing phase, the window for making key technological integrations has arrived.
Meanwhile, the Dogecoin community is closely monitoring every code submission, every license approval, and every hint in Musk's famously mysterious post replies.
