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X Money opens to US Premium subscribers
X Money is rolling out in the US for X Premium subscribers with peer payments, Visa cards, Apple Wallet support, and up to 6% APY.
Image: The Verge
X Money is rolling out in the US starting today, giving X Premium and Premium Plus subscribers access to a digital wallet and peer-to-peer payments, according to 9to5Mac. The service is a core part of Elon Musk’s plan to turn X into an “everything app.”
X Money’s features include:
- Peer-to-peer payments similar to Venmo
- A metal Visa card that users can customize with their X username
- Apple Wallet support
- Free money transfers on X
- An advertised “up to” 6 percent APY
The full 6 percent offer is limited to Premium Plus subscribers. Standard Premium users must deposit a certain amount of money to receive a “boosted” 6 percent APY.
The platform was previously available only through an invite-only beta. Its broader launch follows Musk’s statement a few months ago that “early public access” would begin in April.
X Money’s arrival also comes amid scrutiny over the risks of adding financial services to the platform. Earlier this year, Senator Elizabeth Warren warned that the service could threaten “consumers, our national security, and the stability of the financial system.”
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Musk has discussed putting financial services on X for years. During an X staff meeting in 2023, he said:
“If it involves money, it’ll be on our platform.”
Enterprise Editor
Marcus follows the money. He covers enterprise software, cloud architecture, and the tectonic shifts in Big Tech strategy. He translates dense earnings calls and complex M&A activity into actionable insights about where the industry is actually heading. If a tech giant makes a silent pivot, Marcus is usually the first to notice.
via The Verge
