X, formerly known as Twitter, continues to make big moves to revamp its application, including integrating payment solutions into the platform. X CEO Linda Yaccarino recently shared a video on the platform, introducing new chat features and hinting at users’ ability to make payments and what’s to come for X.
Through the X app, users can share information, engage in community discussion rooms, connect with loved ones, shop online, and instantly send money, all while aiming to provide a personalized experience and be part of a larger community.
As Elon Musk tries to create an application experience that encompasses all apps through the Everything app, he has also been a strong advocate for cryptocurrencies, particularly Dogecoin.
Elon Musk’s complete takeover of Twitter last year led many to speculate that the DOGE payment system could soon be integrated into the platform. This expectation caused the price of DOGE to rally significantly last year. Dogecoin continues to be among the top ten cryptocurrencies by market capitalization.
Earlier this week, there were reports that Elon Musk was preparing to charge users of the X platform. These rumors caused concern among platform users and raised fears that a fee might be imposed on all account holders to maintain access.
However, Musk refuted these claims through a post on X, stating that the rumors were baseless. He also shared that there are no intentions to impose fees on all users of the X platform. This statement received positive feedback from numerous users and appeared to alleviate the concerns prevailing in the market.
On the other hand, Elon Musk acknowledged the decision to increase data sharing on the X platform in response to growing scrutiny from German regulators. The number of cases where X has responded to German requests has seen a significant increase. Sebastian Murer from the Munich prosecutor’s office revealed that X currently shares user data with Bavarian authorities in 50 to 100 cases each month, a substantial increase compared to the past. This indicates a significant rise in compliance with German authorities following the acquisition of X.