Elon Musk is reportedly close to launching X Money, a new financial services product for X, as he continues efforts to turn the platform into an “everything app.”
According to a report from Bloomberg, Musk said the service is expected to launch publicly this month.
Payments and Banking Features
X Money is expected to include free peer-to-peer money transfers, allowing users to send money directly through the platform.
Early users testing the product reportedly highlighted additional features, including 3% cash back on eligible purchases and a 6% interest rate on cash savings. The report said the savings rate is roughly 15 times the US national average.
Debit Card and AI Tools
Reports from early testers indicate the product may also include a metal Visa debit card personalized with a user’s X handle.
Another planned feature is an AI concierge developed by xAI. The tool is expected to track spending and help users search past transactions.
Creator Payments to Move In-House
Bloomberg reported that creators who currently receive payouts through Stripe are expected to transition to X Money.
That move could provide the platform with an early base of active accounts once the service launches.
Some users in the early rollout have reportedly already tested sending payments through chat features or directly via profiles.
Super App Plan
Musk has repeatedly said payments are central to his goal of building a super app similar to platforms used in China.
WeChat is often cited as an example, offering messaging, payments, transport bookings, and other services inside one app.
Licensing Limits Remain
According to X’s website, the company currently holds licenses in 44 US states.
That suggests X Money may face operational limits in states where licenses have not yet been secured.
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