Musk says X Money set for beta launch
X is moving closer to introducing its long-discussed payments ecosystem, as owner Elon Musk confirmed that the service known as X Money has already entered internal testing, Qazinform News Agency correspondent reports.
The feature forms part of Musk’s broader vision of transforming X into an everything app combining communication, commerce and financial services within a single platform.
Speaking during an xAI all-hands meeting in February, Musk said employees are already using the product in a closed environment, with public access expected soon.
“For X Money, we actually had X Money live in closed beta within the company, and we expect in the next month or two to go to a limited external beta and then to go worldwide to all X users. And this is really intended to be the place where all the money is, the central source of all monetary transactions. So, it's really going to be a game changer,” he said.
The company has obtained money transmitter licenses in more than 40 U.S. states and last year partnered with Visa, strengthening expectations that the rollout is gaining momentum.
Market participants are speculating about potential links to digital assets, particularly Dogecoin, long associated with Musk, and XRP due to infrastructure ties between its technology and firms cooperating with X.
Observers say the real implications for global payments and the crypto sector may only become visible after the service moves beyond beta testing in the months ahead.
Earlier, Qazinform News Agency reported that billionaire entrepreneur Elon Musk set a new historic benchmark after his rocket company SpaceX acquired his artificial intelligence firm xAI, forming a combined business valued at about $1.25 trillion.