X Money, a major piece of Elon Musk’s plan to transform X into an “everything app,” is beginning its rollout today, according to 9to5Mac. The new payments service includes a digital wallet and Venmo-style peer-to-peer transfers, as well as a metal Visa card that users can customize with their X username. The platform also supports Apple Wallet and offers free money transfers through X. One advertised benefit is an “up to” 6 percent APY, though access depends on subscription level: Premium Plus members qualify, while standard Premium subscribers must deposit a required amount to unlock the boosted 6 percent APY.
After initially being restricted to an invite-only beta, X Money is now expanding to X Premium and Premium Plus subscribers in the United States. The broader launch follows Musk’s earlier statement that “early public access” to the payments platform would begin in April.
The rollout also arrives after scrutiny from lawmakers. Earlier this year, Senator Elizabeth Warren warned that X Money could create risks for “consumers, our national security, and the stability of the financial system.” Musk has long signaled that payments are central to his ambitions for X; during a 2023 staff meeting, he said, “If it involves money, it’ll be on our platform.”
