The expectation of Dogecoin payments on the X (formerly Twitter) platform has ramped up over the last few years, most especially when billionaire Elon Musk took control of the social media platform. But even a year after the was completed, there is yet to be an official acceptance of DOGE payments on the platform. However, this has not discouraged users who believe that Dogecoin payments are coming to X, one of whom is MyDoge Wallet CTO Alex Lewis.
Dogecoin Payments Are Coming To X
In an interview with Fabrice Calmels, Alex Lewis shared some interesting thoughts about Dogecoin payments and when they are coming to the X platform. Sharing his expectations for the X platform, Lewis explains that the company already carried out applications to become a custodial service such as PayPal. This means that they will be able to allow users to hold currency balances on the platform which can then be used for payments or tips.
The company has already received the green light for some of these applications as well. In August, X became approved to carry out activities as a payment hub in the US. The company had received a Currency Transmitter License (CTL) from the state of Rhode Island, which could allow it to add crypto payments to the platform.
Lewis explains that the payments on X could be structured in a way where users would be able to connect their bank accounts directly to the website which they can use for payments. Furthermore, users would be able to have a Dogecoin balance as well, from which they could pay for things and also tip on the platform. “I honestly believe that’s what’s coming,” Lewis told Calmels.
DOGE price struggles at $0.0911 | Source: DOGEUSD On Tradingview.com
Elon Musk On DOGE Payments
Elon Musk has previously talked about integrating Dogecoin payments into the X app, but this vision is still yet to become a reality. Nevertheless, the company has been moving forward with its plans to integrate payments directly into the social media platform.
In October, Musk revealed that he plans to turn the platform from just social media to a financial platform and 2024 was stated as the year when this would happen. However, amid all this, there has been no mention of adding Dogecoin as a payment method for the plan. The closest that DOGE supporters have gotten is the fact that the source code of the Tesla CyberTruck website mentions Dogecoin.
Musk had also previously revealed plans for a social media platform powered by DOGE, a plan that he had discussed with his brother about bringing to life. But despite the billionaire’s fondness for the meme coin, this has still not happened.