TL;DR
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Back in July of last year, a couple of internet sleuths discovered that Twitter Payments LLC was scooping up state-based ‘money transmitter’ licenses.
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Yesterday, the official @xpayments handle went live on X, which (hopefully) hints at an upcoming launch.
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If each X account was automatically given a Bitcoin and Dogecoin crypto wallet, and 2% of them converted to active X crypto payment users over the next year or so…That would equal ~5M new daily active users for Bitcoin and Dogecoin.
Full Story
Back in July of last year, a couple of internet sleuths discovered that Twitter Payments LLC was scooping up state-based ‘money transmitter’ licenses.
(Which would allow X/Twitter to double as a PayPal/Venmo style app).
And in those license submissions were requests to specifically handle crypto payments.
Which means, if Elon’s past choices of crypto integrations at Tesla are followed at X, we can expect to see in-app Bitcoin and Dogecoin payments.
Since then, we hadn’t heard or seen much progress on the matter.
Until yesterday…
When the official @xpayments handle went live on X, which (hopefully) hints at an upcoming launch.
“Ok, but who really cares? Payment apps aren’t sexy, or exciting – plus, Venmo and PayPal already support crypto payments…so nothing is new here.”
– You, probably.
Fair point.
Here’s our under-thought, back of the napkin math on all of this:
X has a steady 245M daily active user base.
If each X account was automatically given a Bitcoin and Dogecoin crypto wallet, and 2% of them converted to active X crypto payment users over the next year or so…
That would equal ~5M new daily active users for Bitcoin and Dogecoin.
Which would be a face melting increase from each chain’s current daily active user bases (Bitcoin ~667k, and Dogecoin ~72k).
We like those numbers!
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