Elon Musk’s ‘X’ will launch peer-to-peer payments in 2024

“X” – the social network formerly known as Twitter plans on introducing peer-to-peer payments in 2024.

Details of the new service remain unknown

Launching payments will help unlock “more utility and opportunities for commerce”, as per its official blog post on Tuesday.

The social platform, however, did not disclose the details of the new service that it’s warming up to roll out this year. The date of its official launch remains unknown as well.

Nonetheless, integration of peer-to-peer commerce would mark another significant change at “X” that Elon Musk – the billionaire chief executive of Tesla Inc acquired for $44 billion in 2022 as Invezz reported here.  

X is yet to respond to media requests for comment on the announcement it made on Tuesday.   

Musk wants X to be an ‘everything app’

Adding peer-to-peer payments to the social media platform seems in line with the broader vision of Elon Musk who wants to transform X into an “everything app”.

The billionaire had previously disclosed plans of adding “comprehensive communications and ability to conduct your entire financial world” to the social network.

In fact, X partnered with eToro to secure access for its users to a range of financial assets, including cryptocurrencies and stocks (find out more).

The blog post on Tuesday also confirmed that “X” will commit to strengthening ads in 2024. It will continue to invest in talent and content partnerships as well. In October, the platform was estimated to be worth not even half what Elon Musk paid for it.