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Elon Musk’s X Wallet gets Visa support – Impact on digital payments? – Crypto News

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1 year ago

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  • X Wallet’s Visa partnership enables secure, instant funding and P2P payments for users.
  • Elon Musk’s blockchain plans for federal operations could boost Dogecoin’s legitimacy and adoption.

The crypto landscape is buzzing with major developments, especially as Donald Trump took office as the 47th U.S. President.

Amidst this, discussions about Elon Musk’s ambitious plan to integrate digital wallets into X (formerly Twitter) have gained momentum.

Now, this vision is materializing, with X CEO Linda Yaccarino announcing a strategic partnership with Visa.

This collaboration significantly advances X toward becoming a financial powerhouse, fueling speculation about its role in the evolving digital economy.

Linda Yaccarino weighs in

Remarking on the same, Yaccarino took to X and noted, 

“Another milestone for the Everything App: @Visa is our first partner for the @XMoney Account, which will debut later this year.”

The CEO explained that users can securely and instantly fund their X Wallet using Visa Direct, connected to their debit card.

This enables peer-to-peer (P2P) transactions, allowing direct fund transfers to other users.

Additionally, users can instantly transfer funds from their X Wallet back to their bank account. This provides greater flexibility in managing and moving funds between their digital wallet and traditional bank accounts.

This integration enhances the convenience of digital payments while ensuring security and speed.

She added, 

“First of many big announcements about X Money this year. LFG.”

Is this good news for crypto?

Needless to say, Musk’s latest initiative to enhance the X Wallet aligns with his broader vision of developing a super app similar to China’s WeChat.

With Musk’s close ties to U.S. President Donald Trump, a notable supporter of cryptocurrency, there is growing speculation that the X Wallet may eventually expand to support digital assets like Bitcoin [BTC].

If realized, it could pave the way for deeper integration of crypto within mainstream financial services.

As expected, this news was also well received by the crypto community as highlighted by Global Index which noted, 

“As Elon said: X will be the everything app.” 

Adding to the fray was an X user who said, 

“I can’t wait!” 

Musk’s new role heading the Department of Government Efficiency (D.O.G.E) and his plans to incorporate blockchain technology into federal operations could provide a significant boost to crypto adoption in digital payments.

 

Next: Japan’s Metaplanet aims for 21K BTC by 2026 – Here’s why

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