Mizuho: Elon's X Money Could Rival PayPal but Faces CLARITY Act Obstacles

Mizuho warns that Elon Musk's X Money payments project could threaten PayPal by offering integrated P2P transfers, digital wallets, and 6% yield on balances. However, the CLARITY Act may restrict non-banks from providing unregulated deposit-like features, potentially delaying X's plans. SpaceX's IPO filing and crypto platforms offering preSPAX tokens further highlight the convergence of social media, payments, and finance.