Elon Musk Confirms X Money Payment App Enters Beta Testing for 2025 Launch

TLDR

Table of Contents

Elon Musk confirms X Money payment app is starting beta testing with very limited access due to the sensitive nature of handling people’s savings
X Money is planned to launch officially in 2025 in partnership with Visa as a digital wallet service similar to Venmo
The service will allow peer-to-peer payments through connected debit cards but no mention of cryptocurrency integration
X has secured 41 money transmitter licenses across the United States in preparation for the payment platform launch
Despite previous speculation about Dogecoin integration, Musk made no reference to crypto payments in recent announcements

Elon Musk confirmed that X Money, the payment and banking app for his social media platform X, has begun beta testing. The Tesla CEO made the announcement in response to a fan account on May 25, 2025.

The billionaire businessman stated the testing would involve “very limited access beta at first.” He emphasized the cautious approach by writing that “extreme care must be taken” when people’s savings are involved.

This will be a very limited access beta at first. When people’s saving are involved, extreme care must be taken.
— Elon Musk (@elonmusk) May 25, 2025

X Money represents Musk’s vision to transform X into an “everything app” that goes beyond social media. The payment service is designed to function as a digital wallet, allowing users to make peer-to-peer transactions.

The platform has been working toward this goal since Musk’s $44 billion acquisition of Twitter in October 2022. At the time, he described the purchase as “an accelerant to creating X, the everything app.”

Partnership with Visa Enables Traditional Banking Features

X CEO Linda Yaccarino revealed in January that X Money would launch in partnership with Visa. The collaboration allows users to connect their debit cards to make peer-to-peer payments through the platform.

The service operates similarly to existing payment apps like Venmo. Users can fund their X Money wallets from their bank accounts and use the stored funds for transactions.

X has been preparing for the launch by securing money transmitter licenses across the United States. The company has obtained 41 such licenses as of publication time, according to the Nationwide Multi-State Licensing System.

The licensing process is necessary for operating payment services in different states. Each license allows X Money to legally transmit money within specific jurisdictions.

Crypto Integration Remains Uncertain

Despite widespread speculation about cryptocurrency integration, Musk made no mention of digital assets in his recent announcements. The absence is striking given his previous support for Dogecoin and crypto payments.

Musk has previously expressed interest in adding crypto payments to the platform. He has called Dogecoin his favorite cryptocurrency, citing its humor and meme culture.

However, both the January announcement from Yaccarino and Musk’s recent confirmation focused exclusively on traditional payment methods. The platform appears to prioritize fiat currency transactions through the Visa partnership.

Some reports suggest that while crypto payments are not part of the initial launch, engineers are building the system to allow future cryptocurrency integration. This approach would enable X to add digital asset support later if desired.

The payment platform was originally expected to launch in mid-2024 but has been delayed to 2025. The extended timeline appears related to regulatory requirements and the complex nature of financial services.

X Money’s beta testing phase marks a crucial step toward Musk’s vision of an integrated social media and financial platform.

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