Musk: ‘X Money’ to launch limited external beta within two months… ‘It will become a hub for all financial transactions’

YM Lee

Summary

Elon Musk said X’s payments service X Money will be introduced as a limited external beta within 1–2 months.
Musk emphasized that X Money will be “the place where all money comes together,” the central source for all financial transactions, and a game changer.
He said X Money, which will be integrated into the X app, will initially focus on fiat-based payments, noting a partnership with Visa.

*Photo=Frederic Legrand - COMEO/Shutterstock*

Elon Musk, CEO of Tesla, said X is preparing to roll out its payments service ‘X Money’ as a limited external beta within the next one to two months.

According to Cointelegraph on the 12th (local time), Musk said during an ‘All Hands’ presentation at his AI company xAI that “X Money is currently running as a closed beta internally,” adding that it will “be introduced as a limited external beta in one to two months.”

He stressed that X Money “will be the place where all money comes together, the central source for all financial transactions,” calling it a “game changer.”

X Money is seen as a core feature of Musk’s ‘everything app’ strategy. The goal is to integrate social networking, messaging, content, and financial services into a single platform, building a structure similar to China’s WeChat.

Musk said, “I want people to use the X app for a variety of reasons—communication, Grok, X Money, and more,” adding, “If they want, I’ll make it so they can live their lives within the X app.”

He explained that X has 1 billion installed users, while monthly active users are around 600 million, adding that payments will be a key driver in lifting daily usage.

X Money has been rumored since last year and is set to be integrated directly into the X platform. However, early on it is likely to focus on fiat-based payments. X has a partnership with Visa.

Whether it will support digital assets (cryptocurrencies) remains unclear. Musk has made favorable remarks about Dogecoin (DOGE) on multiple occasions in the past, but no specific integration plan has been disclosed.

Meanwhile, Musk also outlined xAI’s infrastructure expansion in the presentation. He unveiled the ‘Macroharder’ data center located in Memphis, Tennessee, and said 220,000 graphics processing units (GPUs) had been added to the existing facility.

Musk said, “To build the best AI model, large-scale training compute infrastructure is absolutely essential,” adding, “We can scale AI compute faster than anyone else.”