Elon Musk's vision for X, an "everything app," is taking shape with the upcoming launch of a payments feature, similar to Venmo. This move is a significant milestone for the company, according to CEO Linda Yaccarino. Documents filed with state regulators reveal a payments system that allows users to store money, make transactions, and purchase products and services.

The payments feature is a crucial part of Musk's plan to expand X's offerings, which includes audio and video calling, news, dating, jobs, and more. While details are scarce, the company has confirmed that it won't charge minimal fees for its payment services. Instead, it aims to generate revenue through merchant fees and banking services like checking accounts.

X Payments LLC has obtained money transmitter licenses in 28 US states, with the latest license granted in Kentucky on May 10. Despite no immediate plans to integrate cryptocurrency into the payments network, Dogecoin remains in the spotlight. Musk has hinted at potential crypto integration in the future, pending regulatory clarity. Currently, Dogecoin's price is down 11% in the past 24 hours, trading at $0.1192.

The payments feature is expected to launch in mid-2024, although no official date has been announced. With X's expansion into payments, the company aims to increase user engagement and participation on the platform. This move could potentially disrupt the traditional payments industry and position X as a major player in the digital payments market.

In conclusion, Elon Musk's X is poised to revolutionize the payments industry with its Venmo-like feature. While Dogecoin may not be integrated into the payments network just yet, it remains a topic of interest among crypto enthusiasts. As X continues to expand its offerings, it will be interesting to see how the company navigates the complex world of payments and cryptocurrency regulation.