Will X Payments Use Dogecoin?

Linda Yaccarino, CEO of X (formerly known as Twitter), announced on Monday that payments functionality is a rapidly approaching feature that will revolutionize user interactions on the platform. Speaking at the Cannes Lions International Festival of Creativity in France, Yaccarino stated, “We are actually redefining what users will come to rely on. The scope of our vision and the pace of innovation at the company is like nothing I can describe.”

Appointed as CEO following Elon Musk’s acquisition of Twitter in 2022, Yaccarino has been instrumental in steering the company through advertiser tensions and expanding its technical capabilities, including AI, audio calls, and video streaming. She highlighted the significant growth in the amount of information accessible to users due to extensive work behind the scenes.

Yaccarino emphasized that Twitter’s transformation into a video-first platform marks a stark contrast from its origins as a “140-character messaging app.” This ability to drive substantial changes was a key reason Musk appointed her. Their early discussions focused on accelerating Musk’s vision for the “everything app,” extending beyond social media to include banking and even dating services.

Yaccarino hinted that numerous technical features enabling varied user connections amid plentiful information will integrate with payments “soon.” She added, “There are so many new things to experience. Think about that: Once we launch payments—we’ll start in the U.S.—the financial system that will emerge on that platform.”

The company advanced its payments strategy by securing three money transmitter licenses last July. While Musk, a well-known Dogecoin enthusiast, has indicated that the feature will primarily involve fiat currencies, it is reportedly being designed to support crypto payments in the future.

Dogecoin’s value has surged in the past when Musk discussed Twitter payments functionality. However, the firm has not confirmed any plans to integrate the leading meme coin. Tesla, Musk’s electric car company, accepts Dogecoin payments for merchandise and Bitcoin payments for vehicle purchases, adding speculation about potential crypto integration on X.