The social media platform X (formerly Twitter), owned by Elon Musk, is expected to launch a new payment system called XMoney.

According to Fox Business and other sources on the 1st, Linda Yaccarino, CEO of X, hinted at the launch of XMoney in a post on her X account just hours before the new year. She stated, "In 2025 (this year), X will connect you in ways you never thought possible."

CEO Yaccarino reflected on last year, saying, "Last year, X changed the world," adding, "Now, you are the media."

She introduced XMoney alongside other features like X TV and the artificial intelligence (AI) chatbot Grok.

She concluded her post by saying, "Buckle up. Happy New Year!"

The official XMoney account, 'Payments @XMoney,' was created in January last year. The account now boasts over 140,000 followers.

Although Musk has not made any public comments about XMoney, he has previously expressed his ambition to transform X into an "all-in-one" platform that goes beyond social networking to offer a variety of services. XMoney is seen as the first step toward this goal, aimed at facilitating transactions on the platform and creating new revenue models.

XMoney's development company, X Payments, is reported to have obtained money transfer licenses in approximately 14 U.S. states.

Rumors suggest that the new payment system might support cryptocurrency transactions, but no specific details have been disclosed yet.

(Source: Yonhap News)