Crypto Coming to X Money? 🤑💸

Well, well, well, it looks like X Money, the social media platform formerly known as Twitter, is getting all cozy with Visa 🤝. And when I say cozy, I mean they’re practically holding hands and skipping through a field of cryptocurrency dreams 🌼. Okay, maybe that’s a bit of an exaggeration, but you get the idea.

Speculation is running rampant, folks! 🤔 Industry insiders are whispering that X Money might just integrate cryptocurrency into its platform by the end of 2025 📆. And who’s fueling this speculation? None other than Ran Goldi, Fireblocks SVP of Payments and Network 🤑. He’s saying that major payment firms are scrambling to develop digital asset strategies, and X Money is likely to follow suit.

“They fully expect that by the end of this year, X will probably have the ability to pay out in cryptocurrencies,” Goldi told The Block 📰

Now, I know what you’re thinking: “But what about the Visa deal?” 🤔 Ah, yes! X Money partnered with Visa to create a peer-to-peer payment system 📈. And let me tell you, it’s a doozy! Users can fund digital wallets, transfer money to bank accounts, and make direct payments using debit cards 💳. CEO Linda Yaccarino is thrilled, calling it a key step toward Elon Musk’s goal of turning X into an “everything app” 📱.

Crypto in the Cards for X Money? 🤔

And then there’s the elephant in the room: Elon Musk’s love affair with cryptocurrency 💘. His electric vehicle company, Tesla, holds over $1 billion in Bitcoin 🚀. And let’s not forget Dogecoin, the meme coin turned serious asset, which Musk has championed for years 🐶. So, a crypto integration on X Money wouldn’t exactly be a surprise 🙄.

But, of course, neither Musk nor Yaccarino has confirmed any crypto plans 🤐. That hasn’t stopped industry watchers from making predictions 🤔. With former President Donald Trump stacking his administration with crypto-friendly officials 🤝, Musk might just see an opportunity too big to ignore 🤑.

Goldi also highlighted the growing demand for crypto payments in the gig economy 📊. Digital asset firms are eyeing X Money as a potential vehicle for cross-border payments, especially for freelancers and online marketplaces 🌎. That segment of the economy, which often deals with currency exchange fees and slow transactions, could benefit greatly from blockchain-based payments 🚀.

And then there are the regulatory questions 🤔. Given its connections to bank accounts and debit cards, X Money operates within the Consumer Financial Protection Bureau’s oversight 👮. The CFPB, formed after the 2008 financial crash, has scrutinized digital payments policing tech firms like Apple and Google that have dipped into finance 🤖. Any move toward crypto could draw fresh regulatory attention 🔍.

Win for crypto—today the @CFPB finalized their “Larger Participant” rule, which targeted digital wallets like Apple Pay — but also covered crypto wallets. The crypto industry, including @paradigm, pushed back on this. In the final rule today, the CFPB fully scoped out crypto. 🎉
— Alexander Grieve (@AlexanderGrieve) November 21, 2024

2025-02-13 23:40

Crypto in the Cards for X Money? 🤔

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