Elon Musk’s X Money app is rolling out in the US
X has officially begun rolling out its financial services app, X Money, to paid subscribers in the United States, offering an X Visa debit card, fee-free transfers, and up to 6% APY.
Stock photo for illustration only, not from the actual event
- X Money is officially launching for paid X subscribers in the United States.
- Users receive an X Visa debit card for Apple Pay integration and physical use worldwide.
- Eligible users can earn up to 6% APY and up to 3% cash back on select purchases.
- The rollout fulfills Elon Musk's decades-old ambition dating back to X.com in 1999.
The social platform X is officially launching its dedicated financial app, X Money, aimed at paid subscribers residing in the United States. This major rollout marks a critical milestone in transforming the platform into a comprehensive all-in-one application.
Upon signing up, users receive an X Visa debit card that can be immediately added to Apple Pay for instant, fee-free, and limit-free peer-to-peer transfers within the app. According to X Money, users will also be shipped a physical X Visa debit card featuring zero foreign transaction fees and complimentary cash withdrawals at ATMs globally.
Regarding financial yields, X Premium+ subscribers paying $40 per month or $395 annually are eligible for a 6% APY rate. Standard Premium members paying $8 per month or $84 annually can also unlock this 6% rate by linking a direct deposit to their X Money account. Furthermore, X Money notes that users can earn up to 3% cash back on specific purchases and access funds a few days early with direct deposit enabled.
Stock photo for illustration only, not from the actual event
The introduction of X Money represents a core pillar of Elon Musk's long-stated ambition to turn the platform into an everything app, blending social networking with digital banking services. While super apps have achieved massive adoption in international markets, scaling a financial ecosystem in the U.S. will require navigating complex regulatory landscapes and establishing deep consumer trust.
The arrival of X Money brings to life a decades-long vision for Elon Musk. Back in 1999, he founded the financial services startup X.com, which later merged to become PayPal. Following his acquisition of Twitter in 2022, Musk rebranded the platform to X and repurchased the original X.com domain name, consistently voicing his intent to build a unified platform for all digital needs.
Source: TechCrunch
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