According to PANews, Christopher Stanley, Chief Information Security Officer of X platform's payment department, announced on April 22 that X users will be able to transfer funds to other users, make purchases from stores, and even earn interest on their account balances like a bank account in the future.
Stanley stated that the payment features of X will go beyond just tipping. It will expand to include an in-app wallet that can store funds and transfer to any X user. The 'ultimate goal' of X platform's payment is to create a fully functional financial ecosystem, allowing users to carry out any regular transactions without having to withdraw.
Some commentators have suggested that the upcoming payment feature of X will initially only support fiat currency. However, it has been reported that Musk has instructed X's developers to build the platform's payment system in such a way that cryptocurrency functionality can be added in the future. Despite Musk's past enthusiasm for cryptocurrency, and Tesla still holding 9720 Bitcoins, he stated in December last year that he 'spent almost no time' thinking about cryptocurrency. Since then, he has not made any statements to confirm whether cryptocurrency will be used for X's payments.
