X, the social media platform previously known as Twitter and now under the ownership of Elon Musk, has announced its plans to introduce peer-to-peer payment capabilities later this year. The announcement was made in a blog post published earlier today, where X detailed its 2024 roadmap. This roadmap includes the implementation of a feature that will allow users to send money directly to each other within the app.

The blog post stated, “We will launch peer-to-peer payments, unlocking more user utility and new opportunities for commerce, and showcasing the power of living more of your life in one place.” This new payment feature is expected to enable X’s millions of users to securely transfer money amongst themselves, potentially transforming the platform into a financial services provider.

Elon Musk, the CEO of X, has previously hinted at his ambitions to evolve the platform into an “everything app” that integrates payments, e-commerce, and social media functionalities. In the previous year, X obtained money transmitter licenses in several US states, a regulatory requirement for storing and transferring funds on behalf of users.

X has already experimented with digital asset payments, having added support for tipping with Bitcoin and Ethereum through its Tips feature in 2022. The introduction of direct peer-to-peer payments would mark a significant evolution of X’s financial capabilities. It could pave the way for additional financial services, such as lending or investment accounts, as Musk aims to make X a versatile platform for digital finance and e-commerce.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries
Sentiment	positive
Relevance Score	1
People	Elon Musk
Companies	Twitter, X
Currencies	Ethereum, Bitcoin
Securities	None