X Money Beta to Launch in 2 Months, Targeting 600M Users
Elon Musk announced at his AI company’s “All Hands” presentation that the X Money payments system will enter a “limited beta” in the next one to two months. The platform is already operational in a closed beta for internal company use. Musk described the initiative as a “game changer,” stating his intention for it to become “the central source of all monetary transactions” for the platform's user base.
The payments feature is a cornerstone of Musk's strategy to evolve X into an “everything app,” similar to China's WeChat. By making financial services a core utility, the company aims to deepen engagement among its approximately 600 million monthly active users. “We want it to be such that if you wanted to, you could live your life on the X app,” Musk explained, framing payments as a fundamental driver for increasing the platform's daily relevance.
Crypto Integration Remains Uncertain as Fiat Payments Take Priority
The role of cryptocurrency within X Money remains ambiguous. While Musk has previously expressed support for Dogecoin (DOGE), the initial rollout is expected to prioritize fiat currencies. This focus is reinforced by the company's existing partnership with payments giant Visa. However, industry observers, including the Blockchain Council, anticipate that X will eventually support cryptocurrencies.
This venture revisits Musk’s original ambitions in digital finance, dating back to 1999 when he co-founded X.com, an online bank that later merged to become PayPal. By leveraging X’s vast distribution, the launch could significantly alter the digital payments landscape. For investors, the key variable remains whether and how digital assets will be integrated, a move that could provide substantial utility and drive price action for any chosen cryptocurrencies.
