Elon Musk’s social media platform, X, is preparing to add financial services. Users will be able to make payments and investments directly within the app.

Linda Yaccarino, CEO of X, said in an interview with the Financial Times that the platform’s 600 million users will eventually “be able to transact [their] whole life on the platform.”

X Money App Launches in US

Linda Yaccarino, CEO of X
Linda Yaccarino, CEO of X, Source: LinkedIn

This move into financial services follows Musk’s confirmation that beta testing is underway for the X Money payment and banking app. Musk emphasized that “extreme care must be taken” during the pilot, since “people’s savings are involved.”

The company is also considering launching an X-branded credit or debit card, possibly later this year. As of 2025, X.com has about 611 million monthly active users, according to Demandsage.

Yaccarino told the Financial Times that the X Money app will first launch in the US. She described it as a “whole commerce ecosystem and a financial ecosystem.”

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X’s Crypto Payment Plans Remain Unclear

Neither Yaccarino nor Musk has confirmed if cryptocurrency payments will be included in X’s financial services. Musk is known for supporting Dogecoin, a popular meme coin launched in 2013.

In March 2024, Musk said Dogecoin might be used to buy Teslas “at some point,” without giving a timeline. Some crypto users took this as a possible sign of future crypto payment support across Musk’s companies.

While X has not confirmed crypto payment plans, other firms are advancing digital asset payment solutions. Visa is promoting stablecoin use in Africa through a partnership with Yellow Card Financial, a payment processor that has handled over $6 billion in transactions since 2019.

Source: Finance Magnates