Elon Musk’s vision to transform X into the West’s version of China’s WeChat is moving forward, with financial transactions becoming a major component of this plan. To achieve this, X is launching X Money later this year, a seamless payment system within the platform.
The official X Money account described it as a service designed “for all your money moves.” Additionally, X CEO Linda Yaccarino announced that Visa will be the first official partner for the X Money Account.
X Money Features
This feature will enable users to securely and instantly add funds through Visa Direct, streamlining peer-to-peer transactions and facilitating swift debit card payments. Additionally, users will have the option to transfer money directly to their bank accounts.
Currently, X has not disclosed any information regarding the rollout of this service outside the United States, which is anticipated to be the initial market. A wider rollout will largely depend on financial regulations and compliance requirements, which can vary significantly across different countries.
More Features Coming Soon
Yaccarino hinted that the Visa partnership is just the beginning, promising more major announcements about X Money later this year. There is no word on what these features are going to be, so we will have to wait for more announcements to find out.
