X Receives New Money Transmitter License, Dogecoin Payments Included?

The X (formerly Twitter) platform has made further headways in its plans to launch its payment services, as it recently got approval from another state, sparking speculations about Dogecoin payments. The crypto community has kept its eyes on this development for a while now, considering that Dogecoin (DOGE) could be included in the payments infrastructure. 

X Payments Granted License In Utah

X Payments, which X owns, was recently granted a Money Transmitter License in Utah. This adds to a number of approvals that the company has already received as it aims to provide its money processing services throughout the United States. So far, X has been granted a license in 15 states, including Utah.

The other states include Arizona, Arkansas, Georgia, Iowa, Kansas, Maryland, Michigan, Mississippi, Missouri, New Hampshire, Rhode Island, South Dakota, Wyoming, and Pennsylvania. Commenting on this development, the world’s richest man, Elon Musk, noted California and New York take the longest for approval. 

Musk will, however, be hoping that these approvals come soon enough as X is expected to launch its peer-to-peer payments this year. The X payments service forms part of Musk’s long-term plan to build an ‘everything’ app that provides multiple services to its users, including financial services. 

Meanwhile, due to Musk’s fondness for the meme coin, the crypto community has continued to speculate that Dogecoin could be included in X payments. 

So far, X has neither confirmed nor denied whether cryptocurrencies, specifically DOGE, will be included in its plans. However, it remains a possibility, especially considering that Musk talked about a payment system using the meme coin, as revealed in his biography. 

DOGE shows strength above $0.08 | Source: DOGEUSD on Tradingview.com

Dogecoin Confirmed To Be Included In Another Of Musk’s Plans

While the crypto community awaits confirmation on whether or not DOGE will be included in X payments, they can take delight in the fact that the meme coin will be used in another of Musk’s projects. Bitcoinist recently reported that Tesla’s supercharging station being built in Hollywood will accept Dogecoin as a payment option upon launch. 

There is the possibility of the launch happening this year, something which could be significant for DOGE’s price heading into the bull market. Musk also recently spoke about X launching a ‘tipping’ system for content creators. Following this revelation, DogeMemeGirl, a member of the DOGE community, highlighted Musk’s fondness for DOGE and how the meme coin is perfect for small transactions like tipping. 

Interestingly, one of DOGE’s earliest use cases came from it being used for tipping users on the Reddit platform. As such, it won’t be surprising if the meme coin also becomes the tipping token on the X platform.

At the time of writing, DOGE is trading at around $0.08, down in the last 24 hours, according to data from CoinMarketCap.  

Featured image from CryptoRank, chart from Tradingview.com