Elon Musk has launched the very limited test phase of X Money, his integrated payment application on X (formerly Twitter), with a planned launch in 2025.
Since 2022, X has obtained 41 financial licenses in the United States to operate legally, consolidating its transformation into a WeChat-style super-app.
The project has raised political concerns, especially from Elizabeth Warren, who sees it as an attempt at massive control of data and the digital economy.
X Money by Musk Arrives This Year
The banking project of Elon Musk is becoming a reality. After months of rumors fueled by code leaks and license filings across the United States, Musk has officially confirmed the test phase launch of X Money, his payment application integrated on the X platform (formerly Twitter).
In a message posted on May 25, the entrepreneur specified that the beta would remain “very limited” at first. “When people’s savings are involved, extreme caution is necessary,” he emphasized.
A Launch Under High Scrutiny
The initiative is not new. Since 2022, Musk described the acquisition of Twitter for $44 billion as an “accelerator” in his vision to create a WeChat-style super-app called X. In 2023, CEO Linda Yaccarino confirmed that the platform would aim for “unlimited interactivity“, integrating payments, media, and financial services.
Since then, X has quietly obtained 41 financial transmission licenses in the United States, a necessary condition to legally operate a banking-type activity.
An Ambition Dividing Washington
The imminent arrival of X Money comes in a particular political climate. In January, Elon Musk was appointed head of the Workforce Optimization Initiative (WOI) by President Trump. This government involvement has raised concerns. In February, Democratic Senator Elizabeth Warren, also anti-crypto, publicly expressed her worries:
Musk is losing money left and right with X. His plan is simple: to turn the platform into a financial empire and collect the banking data of all users.
Tensions are high. Behind the facade of a simple payment app, a project of ecosystem control is emerging: social, political, financial.
Towards Crypto Integration?
The mystery remains about the precise features of X Money. Some analysts expect direct support for cryptocurrencies like Bitcoin, in line with Musk’s past statements and market trends. At this stage, no official confirmation has been given.
But one thing is certain: Musk is playing for high stakes. By launching X Money, he’s not just aiming to compete with PayPal, Apple Pay, or Venmo. He wants to redefine the role of a social platform in the American financial infrastructure.
