Dogecoin Jumps as Elon Musk Says X Money Will Launch in April

X Money is a key part of Elon Musk’s plan to turn social media platform X into an “everything app.” The service covers person-to-person transfers, deposits from bank accounts and debit cards. It currently centers on payments in fiat currencies such as the U.S. dollar, but Musk’s longstanding support for Dogecoin has fueled continued market bets that X could eventually add cryptocurrency features.

Musk most recently announced that X Money is expected to formally launch in April after first entering public beta testing. Support for Dogecoin or any other cryptocurrency has not been announced. Dogecoin rose as much as 8% after the news, with the market watching whether the rally could propel it toward the $0.20-per-token threshold.