X Plans Integrated Trading and Payments by 2025

Elon Musk's vision for X to become the world's first "super-app" is becoming clearer, with a leaked presentation revealing the platform's plans to introduce integrated trading and payments by 2025. The presentation, which has been circulating among industry players, outlines how X will incorporate brokerage APIs, similar to Robinhood's stock trading, and on-chain crypto rails, all integrated into a Visa-powered digital wallet called X Money.

The leaked documents describe X as a comprehensive financial hub. Users will soon be able to trade stocks, send and receive payments, and store value natively within the X app. Brokerage APIs will enable seamless investing, while blockchain rails will facilitate fast, borderless crypto transactions. X Money, launching first in the U.S., will offer features such as tipping, peer-to-peer payments, and in-app purchases, all powered by Visa's global payments network.

However, one notable absence from the roadmap is Dogecoin, the memecoin that Musk has publicly supported in the past. The leaked documents do not mention Dogecoin, instead focusing on fiat rails and regulatory compliance. This has sparked speculation among industry watchers about whether this is a strategic move to appease regulators or a delay ahead of a more comprehensive crypto rollout.

X's fintech ambitions face significant regulatory challenges. The company is already registered as a money transmitter in 41 U.S. states, covering about 80% of the population, but key states like New York, Texas, and California have not yet approved its operations. Without their approval, X's payments and trading capabilities cannot reach all U.S. users. Additionally, in Europe, the Digital Services Act (DSA) poses threats of massive fines for any missteps in data handling or content moderation, requiring X to overhaul its compliance framework.

Visa has been confirmed as X's fiat payments partner, but the crypto side of the equation remains uncertain. While there has been speculation about the integration of stablecoins like USDT or USDC, and suggestions from Cardano's Charles Hoskinson about a "Bitcoin 2.0" roadmap for Dogecoin, Musk has remained silent on the matter. It is possible that X is waiting for clearer U.S. crypto regulations or that Visa itself is cautious about involving volatile assets.

X's move is causing ripples in the fintech industry. Robinhood, which generates a significant portion of its revenue from crypto, is directly threatened by X's plans to offer zero-fee trading and crypto capabilities. PayPal's Venmo would be outfeatured by X Money's social payments, and Meta's WhatsApp and Facebook Pay, which still lack trading features, would lose out in the competition to become the West's first true super-app. For Musk's crypto faithful, Dogecoin's absence is more than a technicality—it's a test of loyalty.

Some observers believe that the regulatory risks are too high for X to launch with memecoins at the forefront. Others predict a staged rollout, with Dogecoin or other crypto assets being integrated once fiat rails are operational and trust is built with users and regulators. There is also the possibility that Visa, a key partner, has withdrawn risky crypto assets from consideration for now.

As beta testing is underway and a 2025 launch is on the horizon, X's future will depend on its ability to secure licenses, operate within global regulations, and win over users' trust. As CEO Linda Yaccarino put it, "2025 X will connect you in ways never thought possible." However, as the fintech arms race heats up, the question remains whether Musk's X can deliver on its vision for a combined financial and social platform—and whether Dogecoin will have its day in the sun at last.