X Money, a payments platform developed by SpaceX CEO and Dogecoin (DOGE) enthusiast, Elon Musk, has officially launched its beta version with impressive financial perks. However, despite years of speculation and expectations that the tech billionaire would finally integrate Dogecoin into a mainstream financial product, the popular dog-themed meme coin remains absent from X Money. The omission raises questions about Musk’s genuine crypto integration strategy for the new payment platform.
Musk Launches X Money In Beta With Perks
Musk’s newly launched X Money platform has launched in beta with financial features that seem almost too good to be true. However, there’s no Dogecoin in sight.
Bankless host and producer Josh Kale recently broke down key specifics of what’s being offered on X Money, and according to him, the numbers are staggering. In an X post, Kale noted that the deposits on X Money are earning up to 6% annual percentage yield (APY), which translates to approximately $15,000 per year in interest and $1,250 per month for those who max out the $250,000 insurance limit.
He explained that the metal card linked to the payment service offers 3% cashback on all purchases, mirroring the benefits typically found in premium financial apps like Robinhood Gold. Another attractive feature of the new X Money platform is its integrated direct deposit feature.
Kale emphasized that direct deposit support allows users to funnel their traditional paychecks into their accounts, while earnings from X can be deposited directly into the system. According to him, everything settles into one unified account where the money immediately begins earning the 6% APY and another 3% through cashback rewards when spending occurs.
Dogecoin Absent From X Money Despite Years Of Speculation
Amid all the excitement surrounding X Money’s incentives and lucrative features, one major player has been conspicuously absent from the platform. Dogecoin, the cryptocurrency that Musk has long championed and incorporated into various ventures, appears to have no role in X Money’s initial design, as of writing.
Despite years of speculation that Musk would eventually integrate DOGE into his financial products, the beta launch of X Money has revealed no connection with the popular dog-themed meme coin. This absence speaks volumes, given Musk’s well-documented history as a vocal Dogecoin advocate.
Countless rumors and industry speculation initially suggested that X Money would be the platform that Musk would finally legitimize DOGE through mainstream adoption. There have even been talks that Musk’s endorsement of DOGE on X Money could trigger another bull run, similar to the surge witnessed in 2021 when the SpaceX CEO’s public support sparked unprecedented price momentum. Yet, the payment platform has primarily focused on fiat currency, with only limited cryptocurrency services currently available.
Despite the clear absence of Dogecoin from X Money, supporters of the meme coin still harbor hope of future integration. Mason Versluis, a prominent crypto investor with over 250,000 followers on X, stated he would continue holding DOGE long-term, betting that Musk is strategically teasing X Money and that a major Dogecoin mention could be in the works.
Featured image from Pngtree, chart from Tradingview.com
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