Will Ripple (XRP) Be Used for Payments on X (Twitter) and Take Over Global Finance?

Elon Musk wants to turn X into an “everything app.” He believes X Payments could become half of the global financial system.

Elon Musk has big plans for X (formerly Twitter). He wants to turn it into an “everything app,” similar to WeChat in China, offering a vast array of services. Among them is X Payments, which Musk envisions could become a huge part of the global financial system, aiming for minimal fraud and efficient transactions.

As reported by Fox Business, X Payments is on the way, and there's already an X Payments account on the platform.

Elon Musk says X (Twitter) will become the "everything app" in an interview with Good Time Stories. 👀

Among other things, Musk says X Payments will become a "major part" of the global financial system, and it will be used for an hour in a good time.

Those who know, know.

— Ben Armstrong (Armstrong World) (@ArmstrongWorld_) July 27, 2023

There are also rumors circulating about private meetings between Brad Garlinghouse, CEO of Ripple, and Elon Musk. However, these rumors are not yet confirmed.

Recently, Garlinghouse was asked about the possibility of taking Ripple public in an interview with Blockworks. In response, he stated that it's "not on the agenda right now." Instead, Garlinghouse highlighted their focus on forging strategic partnerships and exploring relevant acquisition opportunities.

This hints at a broader strategy to expand Ripple's footprint and capabilities, which could tie into the integration of X Payments.

Those who follow crypto might know that XRP, a cryptocurrency developed by Ripple, is designed to facilitate seamless and rapid cross-border payments. It aims to revolutionize the way people send and receive money across different currencies and geographical boundaries.

This focus on efficient and global payments aligns closely with the vision for X Payments.

According to YouTuber Zach Humphries, who has a keen interest in crypto and has over 191 thousand subscribers, Garlinghouse mentioned in the interview that they are making SWIFT integration a priority. This integration is being achieved through EastNet's PaymentSafe technology, which enables seamless transfer of XRP units across SWIFT's network.

In essence, this creates a bridge between the two systems, allowing for efficient movement of funds between different financial institutions and systems.

Earlier this year, rumors spread about the possibility of a partnership between OpenNode and X to introduce Bitcoin payments on the platform. However, these rumors were quickly dispelled by Sam Bankman-Fried, who intervened in the comments section of a post by a well-known cryptocurrency influencer.

As of now, there's no indication of what technology will be used for X Payments, and it remains a topic of discussion among crypto enthusiasts.