The year 2025 will be one of great change for the financial environment in the United States. Among the firms that will undergo a notable transformation is X. The former Twitter will launch its X Money payments solution this year, along with other innovations. The big question now is whether cryptocurrencies are among the options for that transformation.
In a December 31 release, X CEO Linda Yaccarino made the announcement of the updates. Among them, X TV, Grok and X Money stand out. Musk's initiative to turn this social network into a super app aims to emulate WeChat.
For those unfamiliar, WeChat is an all-in-one Chinese application. With it, users can communicate, trade and transfer without leaving the app interface. It is one of the major breakthroughs in innovation and commercial digitalization in the Asian country. For Musk, this application is a futuristic model, and hence his interest in emulating it.
In this way, the tycoon's training could radically transform the way users trade. It should not be lost sight of the fact that X has $1 billion users worldwide. Meanwhile, there is still no certainty as to whether cryptocurrencies are among the options contemplated by X Money.
The owner of X, Elon Musk, is an eccentric character in the extreme, and his ego leads him to make decisions that translate into volatility. Although he manifests himself as a cryptocurrency enthusiast, his personality also affects this market considerably. The latter was reflected in his decision on Bitcoin.
In 2021, the tycoon practically broke his enthusiasm for the pioneering cryptocurrency, citing the alleged pollution of digital mining. At that time, he assured that he would return to it if 50% of the mining runs on clean energy. Since then, the business improved considerably in that regard and currently 57% of the BTC hashrate runs on renewable energy.
If Musk is consistent with his word, the X Money app could accept BTC among its trading options. At worst, it would at least stick with Dogecoin, his favorite coin. Also, there is curiosity whether it will accept stable coins like USDC, something Coinbase CEO Brian Armstrong has been vocal about.
In a parallel vein to these facts is the approval. X Money is licensed in 30 U.S. states, but not in New York. However, with the new Trump administration, its plans are unlikely to meet obstacles in the next few years.
Source: Alejandro Gil / Cryptotrend.
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