Elon Musk’s X Money to Launch This Year, Beta Testing Begins

Elon Musk’s vision of transforming X into an all-encompassing “everything app” is materializing with the beta launch of X Money, a digital payment and banking platform integrated directly into the social media ecosystem.

X Money aims to revolutionize digital transactions by combining social networking with seamless financial services. 

From Tweets to Transactions

The concept of X Money dates back to October 2022, when Musk referred to his $44 billion acquisition of Twitter as “an accelerant to creating X, the everything app”. This vision encompassed integrating various services, including payments and banking, into a single platform. In 2023, Twitter rebranded to X, signaling a shift towards this multifaceted approach.

By January 2025, X had obtained money transmitter licenses in 41 U.S. states, a significant step towards launching its financial services. The platform also secured partnerships with major financial institutions, including Visa, to facilitate secure and instant funding to users’ X Wallets via Visa Direct.

Beta Testing Begins

On May 25, 2025, Musk confirmed the commencement of X Money’s beta testing through a post on X. He emphasized that the initial testing phase would have “very limited access” to ensure “extreme care” when handling users’ savings. This cautious approach underscores the platform’s commitment to security and reliability as it ventures into the financial sector.

Musk wrote that “When people’s savings are involved, extreme care must be taken,” Source: X

Features and Functionality

X Money is designed to offer a comprehensive suite of financial services within the X platform. Musk sees the app as a kind of “everything app“,  Users can expect features such as:

• Peer-to-Peer Payments: Facilitating instant money transfers between users, akin to services like Venmo or Zelle. 
• Bank Account Integration: Allowing users to link their bank accounts for seamless fund transfers. 
• Digital Wallet: Providing a secure space to store funds and manage transactions directly within the X app. 
• Content Creator Support: Enabling creators to receive tips, subscriptions, and other forms of direct fan support without relying on third-party platforms. 

These features aim to streamline financial interactions on the platform, enhancing user engagement and providing new monetization avenues for content creators and small businesses.

The X Money X account confirms it will launch in 2025, Source: X

Strategic Implications

The integration of financial services into X represents a strategic move to diversify revenue streams beyond advertising, which has seen declines under Musk’s leadership. By embedding payments into the social media experience, X seeks to increase user engagement and create a more robust ecosystem. This approach mirrors the functionality of China’s WeChat, which combines messaging, social media, and financial services into a single app.

However, the success of X Money will depend on user adoption and trust in the platform’s financial capabilities. Regulatory compliance, particularly in states where licenses are still pending, will also play a critical role in the platform’s expansion.

X Money and Crypto

Elon Musk’s vision for X Money as an all-encompassing financial platform has sparked considerable interest in the potential integration of cryptocurrencies like Dogecoin (DOGE) and XRP. While no official confirmation has been made regarding their inclusion, several indicators suggest that these digital assets could play a role in X Money’s ecosystem.

Dogecoin and its Shiba Inu mascot have long been associated with Musk, and the subject of speculation concerning its integration into X Money. Despite Musk’s public endorsements of DOGE, and his linking of Dogecoin and Tesla, there has been no official announcement about its inclusion in X Money’s beta version. However, the Dogecoin and cryptocurrency communities remains optimistic, citing Musk’s previous support and the coin’s popularity as potential factors for future integration.

XRP, known for its fast and low-cost transactions, is also considered a strong candidate for integration into X Money. Ripple’s XRP Ledger’s ability to handle high transaction volumes efficiently aligns with X Money’s goal of providing seamless financial services.

While the integration of DOGE and XRP into X Money remains speculative, their potential inclusion could enhance the platform’s versatility and appeal to a broader user base. 

Looking Ahead

As X Money progresses through its beta phase, the platform is poised to redefine the intersection of social media and finance. With plans for a full launch later in 2025, X aims to offer a seamless, integrated experience that caters to the evolving needs of its user base. If successful, X Money could set a new standard for digital interactions, blending communication and commerce in unprecedented ways.

For users and observers alike, the development of X Money will be a critical indicator of the feasibility and appeal of Musk’s “everything app” vision. As the platform navigates the complexities of financial services, its ability to deliver secure, user-friendly, and innovative solutions will determine its impact on the digital landscape.