X has announced it would begin rolling out a peer-to-peer payment service similar to Venmo or PayPal this year, per Frobes.
X has revealed plans to introduce a peer-to-peer payment service akin to Venmo or PayPal later this year. In an official blog post, the company highlighted the new feature as a means to enhance "user utility and new opportunities for commerce."
While no specific launch date was provided, Elon Musk, X's owner, previously indicated to Ark Invest CEO Cathie Wood that it might debut as early as "mid-2024." The upcoming payment service aligns with Musk's vision of X as an "everything app," aiming to consolidate various functionalities, such as social media, video content, and now, peer-to-peer payments. X Payments has obtained licenses to operate in at least 32 states, signaling the company's commitment to its financial services expansion.
Musk's interest in online payments traces back to his co-founding of X.com in the 1990s, which eventually evolved into PayPal. Since acquiring X in 2022, Musk has expressed his intention to integrate comprehensive communication and financial capabilities into the platform. He sees WeChat, a Chinese app combining instant messaging and peer-to-peer payments, as a model for X's success.
The announcement emphasized X's "unstoppable momentum," citing record user engagement and the recent launch of new services under Musk's leadership. Despite claims of 500 million users, online tracker Similarweb suggested lower figures, indicating around 94 million site visits and 45.9 million unique users.
X has announced it would begin rolling out a peer-to-peer payment service similar to Venmo or PayPal this year
1/10/2024
Sam Altman says Meta offered OpenAI staff $100 million bonuses, as Mark Zuckerberg ramps AI poaching effort
6/18/2025 6:38 PMGeneral Mills, GIS, to remove artificial colors from all its US cereals and foods
6/18/2025 6:36 PMARK sees Tesla, TSLA, hitting $8 trillion by 2029
6/18/2025 6:34 PMThe U.S. government posted a $316 billion budget deficit for May, down 9%, or $31 billion, from a year earlier
6/18/2025 6:31 PM
Stay Updated
Subscribe to our newsletter for the latest financial insights and news.
Unusual Whales does not confirm the information's truthfulness or accuracy of the associated references, data, and cannot verify any of the information. Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Options, investing, trading is risky, and losses are more expected than profits. Please do own research before investing. Please only subscribe after reading our full terms and understanding options and the market, and the inherent risks of trading. It is highly recommended not to trade on this, or any, information from Unusual Whales. Markets are risky, and you will likely lose some or all of your capital. Please check our terms for full details.
Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Certain investment planning tools available on Unusual Whales may provide general investment education based on your input. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific situation. See terms for more information.