Before the acquisition of Twitter, Elon Musk already announced plans to create an all-in-one app. Elon Musk's acquisition accelerated the process of creating a versatile app. Meanwhile, Musk has already made some changes to the platform, but many more changes are in the pipeline. For example, he has now spoken out about the ambitions he has regarding the financial aspect of X. Now many crypto enthusiasts are wondering if Musk's beloved cryptocurrency dogecoin (DOGE)
will play a role in these plans.
After acquiring Twitter, Musk announced that this acquisition would accelerate the ambition for an all-in-one app by 3-5 years. Offering financial services is an important step toward the platform's end goal. In a meeting last week, Elon Musk spoke to all employees about the transformation of X into a full financial platform.
In doing so, he also indicated that he would be surprised if the plans are not rolled out by the end of next year.
Last November, the then Twitter registered with the U.S. Treasury Department as a payment processor. This year, the platform also began applying for licenses for its desired payment services.
At the end of August this year, X obtained a currency transmitter license in Rhode Island. Based on this license, the platform received permission to store, trade and exchange cryptocurrency. Many crypto enthusiasts from the DOGE community speculate about a possible integration of dogecoin on X. This is because Musk is a big fan of this cryptocurrency.
To this day, Elon Musk has not released anything about the integration of any particular cryptocurrency on X. However, he has already indicated that the platform will not introduce its own cryptocurrency.