DOGENews

Dogecoin Rallies As X Announces Plans To Launch Peer-to-Peer Payments

2 Mins read

Dogecoin is on another rally once more as social media platform X (formerly Twitter) made an announcement that many believe will ultimately have a significant impact on the DOGE price. According to the announcement, X is finally moving forward with its long-await payments plans which are expected to go live in 2024.

X Says Peer-To-Peer Payments Are Coming

In a post by X Business, the social media platform has revealed its plans for 2024 going forward. The post starts out by highlighting the achievements of the platform in 2023 which was taken over by billionaire Elon Musk in late 2022.

Some of the achievements included the launch of its very own search assistant powered by Artificial Intelligence (AI) called Grok. As well as its ad revenue-sharing program, something that has been a favorite for creators on the platform.

However, the company seems to be looking toward more innovations as 2024 comes into full swing. The post revealed that X will launch a peer-to-peer payment system for users. This is in an effort to actually open up more opportunities for commerce on the platform, allowing users to do everything in one place.

“X is set to revolutionize 2024 with groundbreaking products and services that will reshape how we connect, communicate, and transact,” the post read.

Dogecoin price chart from Tradingview.com (Elon Musk X)

DOGE Price lands above $0.085 | Source: DOGEUSD On Tradingview.com

Dogecoin Payments Coming To X?

The announcement of a peer-to-peer payments system coming to the X platform has sparked optimism in the community that Dogecoin payments will finally be integrated. According to Dogecoin influencer @TOPDOGE007 who posted about X launching its P2P payments service, they “wouldn’t be surprised if we see Dogecoin payments incorporated.”

X received multiple licenses in 2023 to become a payments facilitator across a number of states in the United States. Elon Musk has previously stated that he plans to make X the preferred platform for payments where users will not need to have a bank account to carry out transactions. “It’s not just like send $20 to my friend. I’m talking about, like, you won’t need a bank account,” Musk said in 2023.

Given Musk’s support for Dogecoin and the fact that he has talked about incorporating DOGE payments on X in the past, it is no surprise that expectations are that the meme coin will be used for payments on the platform.

Alex Lewis, Chief Technology Officer (CTO) of the MyDoge Wallet, has also said that he believes that Dogecoin payments will be available on X. Lewis points to the fact that X had applied for licenses to allow users to hold a balance as a precursor of what is to come. In this vein, X users will also be able to have a DOGE balance alongside a dollar balance.

The DOGE price is already seeing some upside as anticipation grows. At the time of writing, the crypto is seeing 7.62% gains in the last 24 hours to trade at $0.084.


Source

1409 posts

About author
Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
Articles
Related posts
CryptoNews

Indonesia's presidential elections pose uncertainty for the thriving cryptocurrency industry

1 Mins read
Indonesia, has emerged as a formidable player in the global cryptocurrency space in recent years. However, the nation’s upcoming general elections in…
BNBCryptoNews

Understanding the Cryptocurrency Boom - Dogecoin Climbs Due to X Payment Integration, While Stellar and BNB Also Experience Growth

1 Mins read
The cryptocurrency market has been experiencing notable gains over the past few days. This is led by an unexpected and surprising spike…
CryptoNews

Crypto Entrepreneur Charged with Defrauding Investors Out Of $150 Million Through Marketing Scheme

1 Mins read
Federal prosecutors have charged a German businessman with securities fraud, wire fraud and money laundering for allegedly scamming over 150 investors out…

🚀 Ailtra Crypto Bot Earned $8.9M Million in 7 Months with 0% Loss!

🚀 Ailtra generated $7.4 in 7 months only!

Unlock 20-75% Monthly Returns & Get $100 FREE!

Meet Ailtra Bot! Launching on 31st March an AI Crypto Bot boasting 20%-75% monthly gains and $7.5M earnings in 7 months. 💸Secure a FREE $100 bonus and up to $20K potential via referrals every month. 🎉Only 1,000 spots are available in first phase – claim yours fast! 🔥

Ailtra.ai will not disclose your account information to any 3rd parties.