The social media platform X (formerly Twitter) owned by the world's richest man Elon Musk has reportedly obtained a license to operate a cryptocurrency wallet service in the United States (US).
According to reports, the Currency Transmission License (CTL) was obtained in Rhode Island.
With the approval of the operation, the X platform will be allowed to carry out legitimate crypto wallet service operations.
Users can store, send and receive various cryptocurrencies that are seen to revolutionize the payment system on the platform as planned by Musk before.
In addition to the crypto market recovering with the news of Grayscale Investment's victory in the lawsuit against the US Securities and Exchange Commission (SEC) yesterday, this news also supported a surge in the price of the Dogecoin (DOGE) crypto.
The price of DOGE which hovered slowly yesterday at $0.063 level has jumped to $0.068 before slightly retreating today.
As everyone knows, DOGE is Elon Musk's favorite crypto that has been mentioned since 2021 and he also has plans to use the dog-themed crypto in the payment system on the X platform.
The plan to create a crypto wallet service will help Musk further develop the platform in payment services involving cryptocurrencies.
He previously revealed plans in early 2023 to bring the financial market ecosystem when rebranding Twitter to X.
But, are DOGE investors still confident that the price can jump again after this as witnessed in 2021?
