Elon Musk’s X Payments Get New License In Louisiana, DOGE Rally To Continue?

Highlights
- Elon Musk's X Payments expands, securing Louisiana license.
- X Payments now holds money transmitter licenses in 23 U.S. States.
- This new license has sparked speculations over Dogecoin's future.
Tech enthusiasts are abuzz with excitement as Elon Musk’s X Payments secures yet another feather in its cap with a newly acquired payment license in Louisiana. The latest development adds to the momentum of X Payments, following last week’s acquisition of three additional money transmitter licenses across various U.S. states.
However, amid the fervor, speculation looms regarding the potential impact on Dogecoin (DOGE) and its ongoing rally.
Elon Musk’s X Payments Receives License In Louisiana
X owner and Tesla CEO, Elon Musk’s ambition into the payments realm is evidenced by X Payments continuing its expansion. Meanwhile, X Payments has recently received a Sales of Checks and Money Transmitters license from Louisiana, according to X Daily News.
Notably, this milestone further solidifies X Payments’ foothold in the U.S. market. The Elon Musk-owned social media giant now holds licenses in 23 U.S. states and awaits approval from the other states. It’s worth noting that X has applied for the money transmitter licenses in 32 states.
Meanwhile, the news of X Payments’ Louisiana license has reignited discussions within the crypto community, particularly concerning Elon Musk’s rumored inclination towards embracing cryptocurrencies like Dogecoin as a payment option. While no official confirmation has been made, the prospect of DOGE integration with X Payments has fueled optimism, contributing to a notable surge in Dogecoin price.
As investors speculate on the potential synergy between X Payments and DOGE, the meme coin’s rally reflects growing market confidence, albeit amid a backdrop of recent volatility.
Also Read: GBTC Outflows At Monthly Low, BTC Relief Rally Ahead?
Will Dogecoin Price Continue Its Momentum?
In a previous interview with Ark Invest’s Cathie Wood, Elon Musk said that he anticipates the X payment features to go live by mid-2024. Although there is no confirmation about the integration of cryptos, speculations loom large.
Meanwhile, Elon Musk is known for his interest in the cryptocurrency industry. In addition, he has also promoted Dogecoin previously in many cases, reflecting his interest in the meme coin. Besides, recent hints from the Tesla CEO regarding the possibility of accepting Dogecoin as a payment method for Tesla vehicles have further fueled speculation about the cryptocurrency’s broader adoption.
As X Payments expands its reach and Musk’s influence looms large, the prospect of DOGE integration gains traction, with investors closely monitoring developments. While the Louisiana license marks a significant milestone for X Payments, its implications for DOGE’s future utility remain speculative, underscoring the dynamic interplay between technological innovation and cryptocurrency adoption in today’s digital landscape.
Meanwhile, as of writing, the Dogecoin price was up 8.34% to $0.2169, while its trading volume rose 17.28% to $5.86 billion. Over the last 24 hours, the meme coin has touched a high of $0.2266 and a low of $0.1986.
Also Read: Cardano Founder Charles Hoskinson Offers Spicy Take On Sam Bankman-Fried Case
- Cathie Wood’s Ark Invest Eyes Stake in Tether as USDT Issuer Targets $500B Valuation
- Kraken Secures $500M at $15B Valuation, Eyes IPO in 2026
- Bybit Lists Ripple’s RLUSD Following BlackRock and VanEck Integration
- SWIFT Plans Stablecoin and On-Chain Messaging Pilot on Linea, Challenging Ripple
- Breaking: U.S. PCE Inflation Rises To 2.7% YoY, Bitcoin Bounces
- Solana Price Set for Q4 Surge as Canary Capital ETF Filing Meets Wyckoff Accumulation
- Avalanche Price Could Surge to $50 as Transactions Jump 200%
- CHMPZ Price Prediction:Will This Net-Zero Community Token be the Next Gem?
- Ethereum (ETH) Price Set for a rebound as Whales Accumulate $1.6B ETH and Outflows Hit $622M
- HYPE Price Prediction As Bitwise Files For Hyperliquid ETF – Is $55 In Sight?
- Shiba Inu Price Eyes Recovery From Demand Zone With Burn Rate Soaring Nearly 400%