Elon Musk’s X platform is the long-awaited XMoney opened its service for Premium subscribers in the US. Users can now send money from person to person within X, and the first financial step that takes the platform beyond the social network appears in real use. In one of the first tests, a user asked Musk 25 dollars sent, and Musk confirmed this transaction via X. The official access date for users in Türkiye has not been announced yet.
X Money is initially limited to the USA, and X is launching this move through Premium subscribers. Thus, the company is testing the payment experience with a more controlled user group before opening it to the masses. In addition, the service directly connects with X’s goal of collecting content, messaging, live streaming, subscription and creator revenues into a single application. Money transfer within the platform is the first concrete example of this goal on the finance side.
behind the service VisaDirect Includes support. X CEO Linda Yaccarino announced Visa in January X Money Account announced as its first business partner. Thanks to this partnership, users in the USA can use their debit cards. Wallet can transfer money to their accounts. In addition, users can send payments to other X accounts and transfer the X Wallet balance to their bank accounts.
The introduction of X Money brings the financial side into play in Elon Musk’s plan to make X the “app of everything.” AP and Reuters cited the Visa partnership as a critical step for the payment leg of this goal. On the other hand, since X offers money transfer services, it cannot proceed with technical preparation alone. In the USA, state-based licenses, customer identification processes and money transfer rules come into play.
X Money offers money transfer via X Wallet with Visa support
According to information previously reported by Reuters, X is pursuing money transfer licenses in more than 40 US states. Therefore, regulatory approvals and financial rules in each country will be decisive in opening the service to global markets. On the Turkish side, X did not share any date for X Money. So for now, the service is focusing on Premium subscribers in the US.
X Money in the US market venmo, Cash App, zelle, Apple Pay And Google Pay It enters the same field with strong competitors such as. In contrast, X brings together payment processing with social streaming, messaging, and the creator economy all within the same app. In this way, users can transfer money without leaving the application after a post, message or content interaction. For content creators, X Wallet becomes a channel linked to subscription revenues and user payments.
The first use of X Money represents only the beginning step on the financial side of the platform. While Premium subscribers in the USA access the service, the Visa Direct-supported wallet system offers money top-up, person-to-person payment and bank account transfer options. It has not yet been officially shared to which user groups X will open access in the next stage. We do not expect it to be available in Türkiye in the near future.