Elon Musk is expanding X into the financial sector, making it more than just a social platform. The company has officially entered beta testing for X Money, giving select users access to its payment and banking features. Musk confirmed the launch on May 25, emphasizing the importance of security in handling financial transactions. This marks a major step toward integrating banking into the digital space, positioning X as a serious player in online finance.
The vision for X Money has been in motion since Musk acquired Twitter in 2022. His goal was never just about social media. He wanted to build an all-in-one digital hub that combined communication, entertainment, and financial services. Over the past two years, X secured 41 money transmitter licenses across the United States, clearing major regulatory hurdles. This is a calculated move that has been in development for years, setting the stage for X’s financial expansion.
Users will be able to send payments, link their bank accounts, and store funds in an X Wallet. The company has partnered with Visa to ensure transactions are processed securely and efficiently. This is a direct challenge to platforms like PayPal and Venmo, offering users a built-in alternative that seamlessly connects to their online presence.
Sources
https://cointelegraph.com/news/elon-musk-confirms-x-money-beta-testing-launch-2025
https://bravenewcoin.com/insights/elon-musks-x-money-to-launch-this-year-beta-testing-begins
https://www.financemagnates.com/trending/banking-on-musk-x-money-beta-goes-live