Elon Musk pushes crypto payments to X (Twitter)

X (formerly Twitter) will allow users to make crypto payments in the future. Elon Musk's company now has the necessary approval received in the U.S. state of Rhode Island.

The license allows the platform to store, transfer or exchange cryptocurrencies and other digital assets. Managing assets on behalf of others is also allowed. X thus makes crypto accessible to its 450 million active users.

The move, however, comes as no surprise. Since the acquisition last October, Elon Musk has repeatedly stated that X will be converted into a "app for everything" - payment functions are just one building block.

Elon Musk is emphatically ruling out a token of his own. Dogecoin is more likely to be integrated as a means of payment. The multimillionaire is considered a big fan of memecoins. At Musk's automaker Tesla, Doge can already be used to pay for merchandise.