In a move that’s likely to shake up the financial technology landscape, Elon Musk’s company, X, is gearing up to launch a new trading and payment system. According to a report from the Financial Times, this development is slated for the near future, but crypto enthusiasts might be left scratching their heads. Notably absent from the initial rollout? Any mention of Dogecoin or other cryptocurrencies.
A Bold Move for X
Elon Musk is no stranger to ambitious ventures, and this latest endeavor is no exception. X’s forthcoming trading and payment system is expected to integrate seamlessly with its existing ecosystem, potentially offering users a new way to handle their finances. Yet, the conspicuous absence of cryptocurrencies in the initial stages has raised eyebrows across the crypto community. “One would think that with Musk’s history of promoting Dogecoin, it would be front and center,” muses crypto analyst Jenna Collins. “But for now, it seems like X is focusing on traditional financial services.”
Despite the lack of crypto integration, the market is buzzing with anticipation. X’s entry could usher in a wave of innovation in the fintech space, drawing parallels to how Apple transformed mobile payments with Apple Pay. But the question remains: Why the apparent snub of digital currencies, especially Dogecoin, which Musk has famously touted in the past?
The Crypto Conundrum
Here’s where it gets interesting. Dogecoin saw significant gains over the past few years, largely fueled by Musk’s endorsements. His tweets have famously sent the meme coin soaring—and crashing. But now, as X prepares to enter the financial fray, Dogecoin and its crypto counterparts are seemingly left in the wings. This follows recent trends in the market, as detailed in Dogecoin Leads Meme Coin Dive as Geopolitical Tensions Slam Crypto Market.
According to sources close to the matter, regulatory hurdles might be a factor. “The crypto regulatory landscape is murky, to say the least,” explains financial strategist Mark Liu. “For a company as high-profile as X, diving headfirst into crypto without clear guidelines could be risky.” It’s a sentiment echoed by many in the industry, highlighting the cautious approach some tech giants are taking in the face of unpredictable regulatory environments.
Meanwhile, the broader cryptocurrency market continues to experience swings. Bitcoin, Ethereum, and other major players have faced their own challenges in 2025, with volatility remaining a hallmark of the sector. Yet, despite these fluctuations, the appetite for crypto integration into mainstream financial systems remains strong. This is evident in moves by other platforms, such as Coinbase, which we explored in Why Coinbase Brought Dogecoin and XRP to Ethereum Network Base.
A Look Back and Ahead
While X’s new system doesn’t currently feature crypto, it’s worth noting Musk’s longstanding relationship with digital currencies. His playful, yet impactful, promotion of Dogecoin has been a rollercoaster for investors. Whether this new venture will eventually embrace crypto remains to be seen, but the door is certainly not closed. “It’s possible that X will introduce crypto elements down the line, once the dust settles on regulations,” suggests Collins.
As for the future, the launch of X’s trading and payment system could be just the beginning. Analysts speculate that once regulatory clarity is achieved, a wave of crypto integrations could follow. “Musk is known for his ability to pivot and adapt,” says Liu. “If the market demands it, and the regulatory framework allows, it wouldn’t be surprising to see Dogecoin or other cryptocurrencies making their way into X’s offerings.”
In the meantime, crypto enthusiasts and investors alike will be watching closely. The potential impact of X’s system on the financial landscape is undeniable, and its evolution could set new precedents for how tech companies approach financial services. As we move further into 2025, the intersection of traditional finance and digital currencies continues to be a space ripe with opportunity—and uncertainty. Will Dogecoin have its day in the sun with X? Only time will tell.
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This article is based on: Musk’s X to Debut Trading and Payment System. But Where is Dogecoin?
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
