Elon Musk has long talked about his vision of turning X into an “everything app”—a single platform that offers a full set of services. After the arrival of XChat, Musk’s next strategic move is to integrate payment features directly into the app itself. According to reports, a new service called “X Money” is set to launch soon and is set to seamlessly integrate banking and transaction capabilities directly within the app. This is an area Musk is already well-versed in, as he had an early role in creating PayPal. The aim now is to bring similar functionality to our own social media platforms.
What features will be there in X Money?
According to a report by Bloomberg, X Money is expected to feature peer-to-peer payments—allowing users to send money directly from one person to another. You’ll be able to send money to others directly through the chat interface or through your user profile, all without leaving the app.
There is also mention of a debit card linked to the account. According to some reports, it could be a personalized Visa card, perhaps with your own X handle written on it. With this, users will be able to use their money for purchases and transactions even outside the app. Another feature that is currently being tested is an AI assistant created by xAI. This assistant is designed to help you keep track of your spending, categorize your transactions and give you a clear and easy overview of where your money is going. Some early testers have also reported benefits like up to 3 percent cashback on certain payments and savings interest rates of around 6 percent. However, it is not yet clear whether these benefits will be available forever or whether they are just part of the initial launch phase.
X Money launch timeline
Although it is expected that X Money will be available to the general public soon, no firm launch date has been announced yet. The launch process has taken longer than expected, mainly due to delays in obtaining necessary regulatory approvals. To operate payment services in the United States, X is required to obtain specific licenses from regulatory bodies in each state. Some of these licenses are still pending—in states like New York—which has slowed the pace of work. As a result, it may not launch simultaneously in all locations. It will likely start with limited access for a select group of people, and then gradually expand.
