Twitter’s Evolution into X: Payments Feature Unveiled, Crypto Integration Postponed

• Tesla Motors CEO Elon Musk plans to introduce the payment system.
• The X payment will exclude cryptocurrency storage.
• Musk aims to transform X into an “everything app” inspired by China’s WeChat.

Elon Musk, CEO of Tesla and X (formerly Twitter), is set to launch “X Payments” later this year, a new payment system for the social media platform that, despite Musk’s known affinity for cryptocurrencies, will not initially support digital assets.

The proposed system aims to rival traditional payment apps like Venmo and Cash App. According to a Bloomberg report, this information was contained in a 350-page document and financial license emails submitted to regulators in 11 states.

Per the documents obtained, X Payments will offer features such as fund storage, transfer, and payment for goods and services, competing with payment apps such as Venmo, Cash App, and Zelle. The company also revealed it will charge small fees for some transactions, adding:  

“However, Twitter Payments does not anticipate charging fees for all of its Services, as the overall goal of the Services is to help increase participation and engagement on the X Platform.”

During a mee…

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