Elon Musk's X Reveals First Payments Details—But No Dogecoin (Yet)

The social media platform formerly known as Twitter will soon take one step closer to becoming Elon Musk’s “everything app,” with X’s long-awaited payments service set to debut later this year.

The service, dubbed X Money, will be offered through a partnership with Visa, X CEO Linda Yaccarino said on X Tuesday. The X account for the platform’s payment service bills itself as a solution “for all your money moves,” yet it does not reference cryptocurrency specifically. 

Yaccarino didn’t name drop Dogecoin either, but her post referenced peer-to-peer payments and an “X Wallet” offered via Visa Direct. Within crypto, wallets are synonymous with software for managing public and private keys, while peer-to-peer transactions are often a core feature.

The integration with Visa Direct will enable instant funding, peer-to-peer payments facilitated via debit cards, and the ability to instantly transfer funds to a bank account, Yaccarino said.

Visa Direct has been used in partnership with crypto firms before. In October, Visa announced that Coinbase would integrate Visa Direct as a funding method for the exchange’s accounts, allowing customers to purchase crypto with a Visa debit card or use it for cashing out.

Decrypt reached out to Visa for comment, but did not immediately receive a response.

Dogecoin Hits Lowest Price So Far in 2025 as Trump Meme Coin and Solana Stumble

As tech stocks plunge, bringing Bitcoin and the crypto market with them, one major coin took one of the hardest hits on Monday: Dogecoin. The price of the O.G. meme coin and Elon Musk favorite fell below the $0.31 mark on Monday—the lowest price seen for DOGE so far in 2025. Dogecoin's price now stands at $0.33 per coin, after a 24-hour dip of just under 5%, CoinGecko shows. Of the biggest coins and tokens by market cap, Dogecoin is right now one of the biggest losers. Only Solana and Cardano ha...

Dogecoin’s price has jumped on speculation surrounding Musk’s companies for years. In 2022, the original meme coin’s price leapt after he floated Dogecoin as a possible payment method for premium X subscriptions, a service referred to as Twitter Blue at the time.

There’s also been considerable speculation in the past that Musk will build X’s payments infrastructure around Dogecoin, though this has never been confirmed.

A couple months after Yaccarino was appointed CEO in 2023, Musk’s platform was awarded money transmitter licenses from a handful of states. Since then, “X Payments LLC” has gained money transmitter licenses from 40 different states, as well as Washington D.C.

Elon Musk and Dogecoin: How the Billionaire Became the 'Dogefather'

As Dogecoin makes a comeback off the back of Bitcoin’s surge, some may be pondering: Where did the asset come from? What’s it for? And what’s Tesla CEO Elon Musk got to do with it?  The original meme coin’s boom largely has the world’s richest man to thank. Musk’s obsession with shitposting helped boost the coin to a top 10 cryptocurrency. It’s been a wacky ride over the past few years, culminating in Musk's appointment to lead a government agency called DOGE—yes, really. But we'll explain it al...

Trading hands at around $0.32 Tuesday, Musk’s favorite cryptocurrency has fallen notably from a three-year high of $0.48 in December. However, Dogecoin has held onto a significant portion of its post-election gains, with its price still doubling from $0.16 on Election Day.

Musk’s budding relationship with President Donald Trump has elevated Dogecoin’s presence within the mainstream, largely through references to Musk’s Department of Government Efficiency cost-cutting initiative, or DOGE, among a plethora of media organizations.

Last week, Dogecoin’s Kabosu mascot hit DOGE’s homepage, causing the meme coin’s price to spike. However, the gains were short-lived. Dogecoin’s price eventually fell when the coin’s logo was removed from the government-hosted website a day later.

Edited by Andrew Hayward