X Super-App Leak: Trading, Payments, But No Dogecoin?

Elon Musk's vision for X to be the world's first "super-app" is coming into focus, with a leaked Financial Times presentation revealing the platform's plans to debut integrated trading and payments in 2025.

The deck, which has been circulating among industry players this week, describes how X will incorporate brokerage APIs—essentially Robinhood-style stock trading—and on-chain crypto rails, all wrapped up in a Visa-powered digital wallet called X Money.

But in a decision that's already sparking controversy, Dogecoin—the memecoin Musk once backed—is conspicuous in its absence from the roadmap.

A Fintech Hub on the Horizon—But Where's Dogecoin?

The leaked documents describe X as a financial one-stop shop. Users will soon be able to trade stocks, send and receive payments, and store value natively within the X app. Brokerage APIs will unlock frictionless investing, and blockchain rails will provide fast, borderless crypto transactions.

X Money, launching first in the U.S., will offer tipping, peer-to-peer payments, and in-app purchases, powered by Visa's global payments network.

But for all the innovation, one thing is missing: Dogecoin.

For all of Musk's years-long public fascination with the memecoin, and rumors it would be at the center of X's crypto ambitions, there is no mention of the token in the leaked documents. Instead, there is an emphasis on fiat rails and regulatory compliance.

Industry watchers are left to wonder: is this a strategic shift to appease regulators, or just a delay ahead of a fuller crypto rollout?

Regulatory Hurdles and the 41-State Challenge

X's fintech aspirations are faced with formidable regulatory hurdles. The company is already registered as a money transmitter in 41 U.S. states, covering about 80% of the population, but not all states are completely covered.

Prominent holdouts are the states of New York, Texas, and California, and without their approval, X's payments and trading capabilities can't reach all U.S. users.

Meanwhile, in Europe, the Digital Services Act (DSA) threatens with massive fines for any missteps in data handling or content moderation, forcing X to overhaul its compliance framework.

Crypto Partners and the On-Chain Finance Future

Visa is X's fiat payments partner, confirmed, but the crypto side of the equation remains open.

Though there's been speculation that stablecoins like USDT or USDC are next, and Cardano's Charles Hoskinson has openly suggested a "Bitcoin 2.0" roadmap for Dogecoin integration, Musk has been quiet on memecoins.

Maybe X is waiting for clearer U.S. crypto regulations—or perhaps Visa itself doesn't want to touch volatile assets.

Robinhood, PayPal, and Meta in the Crosshairs

X's move is making waves in the fintech universe. Robinhood, already generating 43% of its revenue from crypto, is directly threatened by X adding zero-fee trading and crypto capabilities.

PayPal's Venmo would be outfeatured by X Money's social payments, and Meta's WhatsApp and Facebook Pay—still trading-feature-less—would lose out in the battle to become the West's first true super-app.

For Musk's crypto faithful, Dogecoin's absence is more than a technicality—it's a test of loyalty.

Some observers believe regulatory risks are simply too high for X to launch with memecoins at the forefront.

Others predict a rollout in stages, with Dogecoin or other crypto assets coming on board once fiat rails are operational and trust is built with users and regulators.

There is also the possibility that Visa, a key partner, has withdrawn risky crypto assets from consideration for now.

What's Next for X and the Super-App Revolution?

As beta testing is underway and a 2025 launch is on the horizon, X's future will be made in its ability or inability to secure licenses, operate within global regulations, and win over users' trust.

But as the fintech arms race heats up, the question is whether Musk's X can deliver on its vision for a combined financial and social platform—and whether Dogecoin will have its day in the sun at last.