Nikolas Sargeant
Elon Musk has confirmed that X Money, the upcoming payment and banking platform integrated into X, has entered beta testing ahead of its planned 2025 launch. In a post on X, Musk emphasized the importance of "extreme care" when handling users' savings, indicating a cautious approach to the rollout. The beta phase will be limited in scope, with broader access expected as the platform progresses.
This will be a very limited access beta at first. When people’s saving are involved, extreme care must be taken.
— Elon Musk (@elonmusk) May 25, 2025
X Money aims to transform X into an "everything app," offering features similar to China's WeChat, which combines social media, messaging, and financial services into a single platform. The service is designed to facilitate peer-to-peer payments, direct bank transfers, and potentially cryptocurrency transactions, aligning with Musk's vision of integrating financial services into the social media experience.
To support its operations, X Payments LLC, the entity behind X Money, has secured money transmitter licenses in 41 U.S. states. However, some states, including New York, remain without approval, which could impact the platform's initial availability. The platform is also collaborating with major financial institutions, including Citibank, and payment processors like Stripe and Adyen, to ensure a seamless user experience.
As the beta testing phase progresses, more information about X Money's features and functionalities is expected to emerge. The platform's integration with X's existing ecosystem, including Grok (an AI chatbot) and X TV, suggests a comprehensive approach to digital services. Users and industry observers alike are keenly anticipating the full launch later this year.
