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Musk confirms that X is preparing to launch money transfer functionality in its X Payments service

On November 24th, Elon Musk confirmed in response to posts from social media featuring a dollar sign icon on podcast giant Joe Rogan's profile that X is preparing to launch a money transfer feature in its X Payments service. The feature is part of Musk's strategy to turn X into a WeChat-like app for everything. X Payments LLC has received a money transfer licence in most US states, with the exception of New York, laying the groundwork for integrating payment services on the platform. The planned peer-to-peer transaction feature aims to boost customer engagement by enabling direct money transfers within the platform. Although details about the potential crypto asset integration have not been confirmed, given Musk's long-standing support for Dogecoin, the community has speculated that the cryptocurrency is expected to be included. Previously, it was reported in September that XPayments, a wholly-owned subsidiary of Musk's X, has obtained a money transfer license in Oklahoma, and it has so far obtained money transfer licenses in 37 US states. It is reported that X Payments aims to seek licenses in all 50 US states and hopes to launch payment services across the US later this year.