Elon Musk’s social media platform, X, is preparing to add
financial services. Users will be able to make payments and investments
directly within the app.
Linda Yaccarino, CEO of X, said in an interview with the
Financial Times that the platform’s 600 million users will eventually “be able
to transact [their] whole life on the platform.”
X Money App Launches in US
This move into financial services follows Musk’s
confirmation that beta testing is underway for the X Money payment and banking
app. Musk emphasized that “extreme care must be taken” during the pilot, since
“people’s savings are involved.”
The company is also considering launching an X-branded
credit or debit card, possibly later this year. As of 2025, X.com has about 611
million monthly active users, according to Demandsage.
Yaccarino told the Financial Times that the X Money app will
first launch in the US. She described it as a “whole commerce ecosystem and a
financial ecosystem.”
You may find it interesting at FinanceMagnates.com: X
Crash or Cyber Clash: Musk Says “Massive Attack” Took Site Down.
BREAKING: X TO OFFER INVESTMENT AND TRADING IN ‘SUPER APP’ PUSH – PER FINANCIAL TIMES pic.twitter.com/tL1BRWSe2l
— DEGEN NEWS (@DegenerateNews) June 19, 2025
X’s Crypto Payment Plans Remain Unclear
Neither Yaccarino nor Musk has confirmed if cryptocurrency
payments will be included in X’s financial services. Musk is known for
supporting Dogecoin, a popular meme coin launched in 2013.
In March 2024, Musk said Dogecoin might be used to buy
Teslas “at some point,” without giving a timeline. Some crypto users took this
as a possible sign of future crypto payment support across Musk’s companies.
While X has not confirmed crypto payment plans, other firms
are advancing digital asset payment solutions. Visa is promoting stablecoin use
in Africa through a partnership with Yellow Card Financial, a payment processor
that has handled over $6 billion in transactions since 2019.
This article was written by Tareq Sikder at www.financemagnates.com.
This post is originally published on FINANCEMAGNATES.
