Elon Musk's social network X has launched a limited release of X Money — its own payment system built directly into the app. After the latest update, some American users now see new sections with financial features. Access is being granted first to Premium+ subscribers in the U.S.
The first users have gained access to a built-in wallet that lets them send money to other accounts, top up their balance, withdraw funds, and store money inside the system.
The announcement says the service pays 6% annually on balances. For quick top-ups, X has connected Visa, and user funds are insured through banking partners operating under the FDIC program.
The company is also rolling out a new authentication system — Musk confirmed that the service uses access keys instead of the usual passwords. The technology is built on the FIDO2 standard. To log in, the system relies on the device's built-in biometrics — face recognition or a fingerprint — with no separate password entry, which reduces the risk of data interception through phishing attacks.
Benji Taylor leads the company's financial push at X and xAI. He previously worked at Coinbase on the Base ecosystem, and later built products at Aave Labs, where he worked on tools to make non-custodial storage of crypto assets easier to access.
The launch of X Money continues Musk's plan to combine communication, payment services, and future crypto tools within a single platform. To roll the service out fully beyond the U.S., the company will need to obtain additional regulatory licenses in other countries.