Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Imitating WeChat Pay? Musk Responds to Upcoming Release of X Money

Source Tradingkey

TradingKey - On May 26th, Elon Musk, CEO of Tesla, announced on the social platform X (formerly Twitter) that its digital payment service X Money has entered a small-scale Beta testing phase.

In his tweet, he emphasized the need for "the utmost vigilance" when it comes to features involving user savings.

As a core component of the "super app" strategy proposed during the acquisition of Twitter in 2022, X Money plans to integrate services related to social interaction, payments, and banking, creating a comprehensive financial management system that eliminates the need for traditional bank accounts.

X Money is expected to become the essential feature of an "American version of WeChat," constructing a super app ecosystem similar to what WeChat Pay has achieved in China.

Currently, X Corporation has obtained money transmission licenses in 41 states across the U.S., laying the groundwork for regulatory compliance regarding its financial functionalities.

Given that this is Musk's platform, there is speculation within the cryptocurrency community that X Money may support Dogecoin (DOGE); however, Musk has not confirmed this.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

What Crypto Whales are Buying For May 2025 Crypto whales are making bold moves heading into May 2025, and three tokens are standing out: Ethereum (ETH), Artificial Superintelligence Alliance (FET), and Onyxcoin (XCN).

Author Beincrypto

Apr 21, Mon

Crypto whales are making bold moves heading into May 2025, and three tokens are standing out: Ethereum (ETH), Artificial Superintelligence Alliance (FET), and Onyxcoin (XCN).

Analysts Highlight 4 Reasons Why ETH Price Could Rebound Strongly in May Ethereum (ETH) has declined for five consecutive months. However, it enters May with rising optimism.

Author Beincrypto

May 07, Wed

Ethereum (ETH) has declined for five consecutive months. However, it enters May with rising optimism.

Ethereum Price Ready to Surge—$2,000 Level Could Be Within Reach Ethereum price started a fresh increase above the $1,800 zone. ETH is now rising and attempting a move above the $1,850 resistance. Ethereum started a fresh recovery wave above the $1,820 resistance.

Author NewsBTC

May 08, Thu

Ethereum price started a fresh increase above the $1,800 zone. ETH is now rising and attempting a move above the $1,850 resistance. Ethereum started a fresh recovery wave above the $1,820 resistance.

Ethereum Price Explodes Past $2,200 with 25% Surge—Momentum Builds Fast Ethereum price started a fresh surge above the $2,000 zone. ETH is now up over 25% and consolidating gains near the $2,200 zone. Ethereum started a fresh surge above the $2,000 resistance.

Author NewsBTC

May 09, Fri

Ethereum price started a fresh surge above the $2,000 zone. ETH is now up over 25% and consolidating gains near the $2,200 zone. Ethereum started a fresh surge above the $2,000 resistance.

Bitcoin 2025 Conference Day One: How Has the Crypto Market Shifted? The Bitcoin 2025 Conference signals strong regulatory recognition of Bitcoin in the U.S., with growing speculation that the government may increase BTC holdings.

Author TradingKey

20 hours ago

The Bitcoin 2025 Conference signals strong regulatory recognition of Bitcoin in the U.S., with growing speculation that the government may increase BTC holdings.

Popular Symbols