X Money Launches in the US Starting Today
Elon Musk's X introduces a payment platform with digital wallet and metal Visa card, initially available to premium subscribers in the United States.
X Money, a core component of Elon Musk's vision to turn X into an "everything app," is rolling out starting today in the US, according to 9to5Mac. The payment service includes a digital wallet and peer-to-peer transfers similar to Venmo, along with a metal Visa card that users can personalize with their X username. Additional features include Apple Wallet support and free money transfers on X.
The platform advertises an annual percentage yield (APY) of up to 6%, but only Premium Plus subscribers are eligible for that rate—standard Premium subscribers must deposit a certain amount to receive a "boosted" 6% APY. Previously limited to an invite-only beta, X Money is now available to all X Premium and Premium Plus subscribers in the US.
The launch comes a few months after Musk said "early public access" would begin in April. Earlier this year, Senator Elizabeth Warren raised security concerns about X Money, writing that it could pose risks to "consumers, our national security, and the stability of the financial system." Musk has long aimed to launch a payment platform on X; in 2023, he stated during a staff meeting, "If it involves money, it'll be on our platform."
