The X Money project — a payment and banking solution within the X platform, formerly known as Twitter — has officially entered the testing phase. Elon Musk confirmed in response to a post by the fan account Tesla Owners Silicon Valley that the beta version of X Money is already live and will be available in a limited format.
Payment Feature Inside X
Initial hints of integrating financial services into Twitter emerged in October 2022 when Musk described his $44 billion acquisition of the social network as an “accelerator” for creating the all-in-one app X. In 2023, the platform underwent a rebrand, and CEO Linda Yaccarino stated that X would become a super app combining multimedia content, social interaction, and payment capabilities.
According to Musk, the platform will launch with “extremely limited access” in the initial phase.
“When it comes to people’s savings, you have to be incredibly careful,” he commented.
Legal Infrastructure Already Partially in Place
X is actively working on obtaining money transmitter licenses in the United States. According to the Nationwide Multistate Licensing System, as of publication, the company has secured 41 licenses for operating X Money across various states. This is one of the required steps for a full-scale launch of financial products within U.S. jurisdiction.
Rising Interest and Criticism From Authorities
The reactivation of the X Money project coincides with Elon Musk’s growing political influence. In January, he was appointed head of the Department of Government Efficiency’s D.O.G.E. (Department of Optimization of Government Efficiency) initiative — a new body under the U.S. presidential administration.
The initiative sparked criticism, especially following reports about the potential implementation of a payment platform within X. Democratic Senator Elizabeth Warren accused Musk of attempting to use X to collect citizens’ personal financial data. She also stated that Musk is “losing money on X” and seeks to monetize the platform by integrating financial services while bypassing the oversight of her agency — the Consumer Financial Protection Bureau.
Support for Cryptocurrencies Not Confirmed but Remains Possible
Although there have been no official statements regarding cryptocurrency integration, the community has speculated that X Money might support tokens like Bitcoin. These assumptions are fueled by Musk’s public remarks on cryptocurrencies and his previous activity around Dogecoin.
For now, X Money remains in a testing phase, and details about its functionality, release timeline, and supported financial instruments have not yet been disclosed.
Earlier:
- Musk Strikes Deal with Visa to Launch X Money — Details Inside
- Leaked X Code Hints at “X Money” Payment System Launch in 2025
This post is for informational purposes only and is not an ad or investment advice. Please do your own research making any decisions.