- Elon Musk’s X Money enters beta testing phase.
- Integrates financial services with social media platform.
- Potential disruption in digital payment markets.
Elon Musk has confirmed that X Money, his financial services platform for X, formerly Twitter, has commenced beta testing as of May 25, 2025.
X Money’s limited beta launch signals a significant step in merging social media with financial services, potentially reshaping digital payments.
Introduction
Elon Musk officially confirmed the beta testing of X Money, aiming to transform X into an “everything app.” Announced on May 25, 2025, this project has been in development since Musk’s 2022 acquisition of Twitter.
Collaborations and Strategy
He stated that the initial beta will be limited, prioritizing user savings’ security. Project leader Linda Yaccarino highlighted a strategic partnership with Visa that will support various financial functions on the platform.
“This will be a very limited access beta at first. When people’s savings are involved, extreme care must be taken.” — Elon Musk, CEO and Owner, X (formerly Twitter), source
The beta test marks a potential shift in the digital payments landscape, with X aiming to integrate finance into its social media platform. This development could challenge traditional banks and payment processors significantly.
Regulatory Considerations
Musk’s cautious approach, seen in securing 41 money transmitter licenses, underscores the considerable regulatory efforts involved. This deliberate strategy follows previous tech attempts to enter financial services, such as Meta’s Diem.
Market and Historical Context
Initial market reactions have been mixed, with some observers skeptical about consumer data security concerns. Political figures, including Senator Elizabeth Warren, have expressed reservations about data implications.
Historically, similar super apps have succeeded in other regions, like China’s WeChat Pay and Alipay. This historical context suggests potential success for X Money, given its attention to regulatory compliance and consumer trust.
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