Elon Musk He recently gave a speech announcing his plans to introduce payment services on X. Musk shared this information during a chat with ARK Invest’s Cathie Wood at the X Spcaes event on December 21. Despite the high expectation surrounding X, Musk has made remarks implying that the inclusion of crypto assets in payment services does not seem possible.
Elon Musk predicts that in-app payment services on X will be fully functional by the middle of next year. However, the realization of this timeline is very critical for the approval of various money transmitter license applications. Musk acknowledged that there was an initial desire to speed up the launch of payment services, but cited delays attributed to bureaucratic processes.
As we reported as Koinfinans.com, although the company has experienced delays in its applications so far, it has not encountered any obstacles yet.
The cryptocurrency community believed that crypto assets, especially Dogecoin, would be added to this payment system, but Elon Musk made a statement stating that he had almost no interest in such digital assets.
Despite Elon Musk’s statements, TeslaIt is noteworthy that it still has approximately 148 million dollars worth of Bitcoin on its balance sheet. What’s more, Tesla customers can use Dogecoin to shop at Tesla Shop. Reports from 2022 stated that Musk’s tunnel construction firm, The Boring Company (TBC), began accepting Dogecoin for rides on the Las Vegas transit system.
Answering a question from the artificial intelligence project Grok, Musk admitted that he had given little thought to cryptocurrency. However, he provided insight into his perspective on money and digital assets, considering them “a database for resource allocation.” Musk stated that he accepts fiat currency on the condition that state actors refrain from manipulating its supply and devaluing it.