Elon Musk has quietly transitioned X Money—previously a subject of mere code leak rumors—into a live testing phase; however, despite years of speculation, Dogecoin remains notably absent from the platform. Responding to a fan account’s Sunday inquiry about the imminent arrival of X Money, Musk emphasized that the initial beta would have very limited access, highlighting the necessity for extreme caution when handling users’ savings. This remark underscores Musk’s readiness to introduce the long-promised payments layer within his envisioned “everything app” to real-world users.
X Money is envisioned as a comprehensive wallet and banking system embedded within the social network, modeled closely on China’s WeChat. Insider sources indicate plans for a broad rollout across the United States by the end of this year. Nevertheless, Musk has clarified that the number of initial testers will be constrained to thousands, enabling engineers to monitor balances and transactions under real-world stress conditions.
This cautious approach is driven primarily by regulatory considerations. X Payments has secured money transmitter licenses in 41 U.S. states and Washington D.C., though notably excluded is New York, where the Department of Financial Services (DFS) mandates a stringent BitLicense for crypto-related activities. Earlier this month, two Manhattan lawmakers petitioned the DFS to reject X Money’s application, accusing Musk of irresponsible management of consumer funds.
California’s recent licensing approval for X Money positions Visa as its first network partner. In January, X CEO Linda Yaccarino stated that customers would soon be able to fund their X Wallets instantly via Visa Direct and transfer funds to bank accounts in real time—signaling the onset of major announcements planned for 2025.
The crypto market’s focal question remains whether Musk will integrate digital assets—particularly his favored meme coin, Dogecoin—into this service. Sunday’s exchanges offered no indication of such inclusion, and Yaccarino’s discussions regarding Visa also omitted any mention of cryptocurrencies. This silence aligns with Musk’s previous communications and contradicts longstanding speculation that Dogecoin would be adopted as part of the platform.
Should the limited beta prove successful, X Payments intends to expand access state-by-state through further licensing. The outcome in New York will be especially pivotal, as regulatory approval there could activate Wall Street’s user base and secure national legitimacy for X. Regardless of whether Dogecoin or other cryptocurrencies are incorporated, the service is poised to open new revenue streams for X via interchange and wallet fees—an important development given Musk’s January admission that the platform remains relatively unprofitable.
For now, Dogecoin remains in a state of anticipation, with its prospects hinging on regulatory clarity and Musk’s willingness to assume associated risks. The commencement of a live beta, however, marks a tangible opportunity for technical integration—whether involving fiat currencies or crypto assets. The Dogecoin community is closely monitoring each update, licensing milestone, and Musk’s often cryptic responses. Currently, Dogecoin is trading at approximately $0.228.
Further details can be found here: https://bitcoinist.com/where-is-dogecoin-musks-x-payments-beta/
