In brief
- Elon Musk has confirmed that X Money—a service allowing people to make payments using X (formerly Twitter)—was coming soon in “very limited access beta.”
- The CEO of X has spoken about how he wants the platform to be an “everything app.”
- But there was again no mention of crypto payments.
Tesla CEO Elon Musk confirmed on Sunday that his X platform would soon roll out a payments service in beta mode.
Responding to the Tesla Owners Silicon Valley account’s comment that X would launch “X Money soon,” Musk wrote: “This will be a very limited access beta at first.”
He added: “When people’s saving [sic] are involved, extreme care must be taken.”
Back in January, X CEO Linda Yaccarino said that X Money would debut later this year in partnership with Visa and allow users to connect their debit cards to make peer-to-peer payments.
The world’s richest man and advisor to President Donald Trump has talked about making X—formerly Twitter—a multi-purpose “everything app” where people can pay for things. X Money would essentially function as a digital wallet, with Visa enabling users to fund those wallets from their bank accounts and then use it as they would other peer-to-peer services like Venmo.
Since SpaceX boss Musk bought Twitter in 2022, there has been speculation that the website would be used as a crypto payment platform due to the billionaire’s frequent praise of the meme coin Dogecoin.
But there was no mention of Dogecoin—or crypto—in January’s announcement or Musk’s latest comment.
Musk has previously said that he’s “not actively involved” in the crypto world but likes Dogecoin, the eighth biggest digital coin by market cap, because “it’s got the best sense of humor and it has dogs and memes, and I love all those things.”
X’s press office could not immediately be reached for comment.
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