On Saturday local time, Musk’s X platform officially launched the Xpayments account, marking another step forward for the company to launch payment functions. Affected by this, the price of Dogecoin once jumped more than 14% in 12 hours, rising from US$0.079 to US$0.091.
Musk is known for his preference for cryptocurrencies, particularly Dogecoin and Bitcoin. He plans to build X into a super application and launch various services including financial products.
Musk's X platform has received money transfer licenses in 15 U.S. states, and the company announced in a blog post earlier this month that it plans to launch peer-to-peer (P2P) payment capabilities this year.
Although Musk has made it clear that his company has no intention of issuing its own token, Dogecoin’s price surge coincides with the launch of the Xpayments account. This sparked speculation in the crypto community about a potential integration or collaboration between Dogecoin and X, speculation further fueled by Musk’s well-known interest in Dogecoin and Bitcoin.