TL; DR
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Last July, a few internet sleuths discovers that Twitter Payments LLC held state-based “money transmitter” licenses.
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Yesterday the official @xpayments handle went live on X, which (hopefully) signals an imminent launch.
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If every X account were automatically given a Bitcoin and Dogecoin crypto wallet, and 2% of them were converted into active and Dogecoin.
Full story
Last July, a few internet sleuths discovers that Twitter Payments LLC was scooping up state-based “money transmitter” licenses.
(Which would allow X/Twitter to act as a PayPal/Venmo style app).
And those permit submissions included requests to be handled specifically cryptocurrency payments.
That means if Elon’s previous choices in crypto integrations at Tesla are followed at X, we can expect to see in-app Bitcoin and Dogecoin payments.
Since then, we hadn’t heard or seen much progress in this area.
Until yesterday…
When the official @xpayments handle went live on X, which (hopefully) signals an imminent launch.
“Okay, but what does it really matter? Payment apps are not sexy or exciting – plus Venmo and PayPal already support crypto payments… so nothing is new here.”
– You probably.
Good point.
Here’s our underthought, back of the napkin math on all of this:
X has a stable daily active user base of 245 million.
If every X account were automatically given a Bitcoin and Dogecoin crypto wallet, and 2% of them turned into active
That would equate to ~5 million new daily active users for Bitcoin and Dogecoin.
That would be a melting increase over any chain current daily active user bases (Bitcoin ~667k and Dogecoin ~72k).
We love those numbers!