X Payments Acquires Licenses, Sparking Dogecoin Integration Rumors

Elon Musk's X Payments has acquired licenses to operate as a money transmitter in multiple US states, including Illinois, New Mexico, and Oregon. This move has sparked renewed speculation about the potential integration of Dogecoin into the platform, as Musk has expressed his support for the cryptocurrency in the past. Dogecoin has responded positively to the news, with a 6% surge in value in the last 24 hours.

Elon Musk's X Payments Acquires Licenses for Money Transmitter Services, Reigniting Hopes for Dogecoin Integration

New York, New York - March 10, 2023 - X Payments, a subsidiary of Twitter, has recently secured licenses to operate as a money transmitter in three additional US states: Illinois, New Mexico, and Oregon. This brings the total number of states in which X Payments is licensed to 19, including Georgia, Arizona, and Ohio.

The move has sparked renewed speculation about the potential for Dogecoin (DOGE) integration into Twitter's platform. Dogecoin enthusiasts have long anticipated such an announcement, as Elon Musk, Twitter's CEO, has been a vocal supporter of the cryptocurrency.

Musk's vision for Twitter has always included transforming it into a comprehensive digital hub that encompasses various financial services. In 1999, he launched X.com, an online bank, with the intention of offering a wide range of financial capabilities.

According to Walter Isaacson, Musk's biographer, Musk wrote on Twitter prior to his acquisition of the company:

"In the months to come, we will add comprehensive communications and the ability to conduct your entire financial world. The Twitter name does not make sense in that context, so we must bid adieu to the bird."

Linda Yaccarino, Twitter's new CEO, has also expressed ambitions to expand the platform's offerings beyond its core microblogging functionality. She envisions it becoming a go-to destination for various services, including payments, creator tools, and shopping.

Does X Payments' Expansion Favor Dogecoin Integration?

Yaccarino has previously stated:

"X is the future state of unlimited interactivity – centered in audio, video, messaging, payments/banking – creating a global marketplace for ideas, goods, services, and opportunities. Powered by AI, X will connect us all in ways we're just beginning to imagine."

The recent acquisition of licenses in multiple US states has reignited discussions about the potential integration of crypto payments, particularly Dogecoin, into Twitter's platform.

In December 2023, Alex Lewis, Chief Technology Officer (CTO) of MyDoge wallet, added to the speculation, stating that X Payments had made significant progress toward offering payment services after obtaining a money transmitter license from Pennsylvania. This would allow users to directly connect their bank accounts to Twitter for payment and access a Dogecoin balance for making payments and tipping.

"So you could just have a, you can have your bank account connected to X app, and then you have a Dogecoin balance as well that you can use for payments and tipping in parallel, so I honestly believe this was coming."

Dogecoin's Reaction and Market Position

Dogecoin has responded favorably to this development, experiencing a 6% increase in value over the past 24 hours, trading at $0.1630 as of press time. The asset currently holds a dominant position in the meme coin ecosystem, with a market capitalization of $23.4 billion, making it the 8th largest cryptocurrency by market cap. Interestingly, its rival, Shiba Inu, trails with a market cap difference of $7 billion.

The acquisition of licenses by X Payments is seen as a positive development for Dogecoin's integration into Twitter's platform. It remains to be seen whether such integration will materialize, but the recent developments have certainly fueled speculation and raised the hopes of Dogecoin enthusiasts.