There are also plans to issue virtual and physical debit cards.
Elon Musk's social network X is preparing to launch a new payment system called X-Money, designed for payments, savings, and content monetization within the X social network.
The service is planned to be opened to the general public in April 2026. Users' funds will be held at Cross River Bank and insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000.
In the first phase, X-Money will focus on traditional fiat instruments. Users will have access to a built-in digital wallet for sending, receiving, requesting, and storing funds, including transfers between individuals (P2P).
There are also plans to issue virtual and physical debit cards with 1% cashback and additional rewards. Currency conversion will be carried out without fees. A high-yield savings account with an interest rate of up to 6% is also planned.
In the future, the service is expected to include utility bill processing, banking services, and content monetization – payments to authors.
Trading in cryptocurrencies and stocks is expected to be available later in the year.
Visa Direct will be responsible for instant transfers between X users.
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