X Money Begins Beta Testing With 41 US Licenses Ahead of 2025 Launch

Elon Musk has initiated beta testing for X Money, a digital payment and banking platform integrated into the social media app X, formerly Twitter, as part of his vision to transform it into an "everything app." X Money aims to provide features such as peer-to-peer payments, bank account integration, and a digital wallet, enabling seamless financial transactions within the social platform. Since Musk's acquisition of Twitter in 2022, the company has secured money transmitter licenses in 41 U.S. states and formed partnerships with financial institutions like Visa to ensure secure and instant fund transfers. The beta testing phase is limited and cautious, with Musk emphasizing the importance of extreme care when handling users' savings. The launch is expected later in 2025, with the platform potentially expanding to include cryptocurrency capabilities, reflecting Musk's ambition to make X a comprehensive financial and social ecosystem similar to China's WeChat. This development aligns with broader trends of integrating financial services into social media but stands out by tightly linking money management with social networking in the U.S. market.