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X Money Beta Testing
After the fan account “Tesla Owners Silicon Valley” announced that X Money is about to launch, Musk immediately responded, stating that the platform is currently undergoing “a very limited beta test” and emphasized that “extra caution must be taken when it comes to people’s deposits.”
Payment Transformation Blueprint Becomes Clearer
According to information from X Money’s official X account, the application is planned to be fully launched in 2025.
Interaction with Trump Administration Draws Attention from Political Circles
The development of X Money is a crucial part of Musk’s vision to transform X into an “Everything App.” Since 2022, Musk has repeatedly mentioned his desire to expand the social platform to encompass multifunctional areas such as payments, banking, and e-commerce. According to the official information from X Money, the platform is expected to be fully launched in 2025. So far, X has obtained 41 state-level payment transfer licenses in the United States and is continuing to expand its national operational compliance.
As for whether X Money will compete with new financial platforms such as PayPal, Cash App, and Revolut, and support access to or trading of cryptocurrencies like Bitcoin (BTC), it remains uncertain.
As Musk promotes X Money, the political atmosphere in the United States is shifting. Following the Trump administration’s assumption of office earlier this year, Musk was appointed as the head of the “Department of Government Efficiency (DOGE),” which indirectly accelerated X’s financial business deployment. However, this move has also sparked political backlash. Democratic Senator Elizabeth Warren warned in February this year: “Musk has lost a lot of money on X, and now he wants to turn it into a financial platform to collect users’ personal and financial information.”