Elon Musk Says X Money Payments Will Launch in 'Very Limited Access Beta' Soon

The X Money payments service is expected to launch later this year with support for crypto payments.

Written by Radhika Parashar, Edited by David Delima | Updated: 27 May 2025 17:06 IST

Elon Musk Says X Money Payments Will Launch in 'Very Limited Access Beta' Soon

Photo Credit: Reuters

Elon Musk aims to transform X from a microblogging platform to an "everything app"

Highlights

Elon Musk said the beta test is to ensure the network is safe
He said people's savings will be involved, so security is paramount
X Money is presently in the process of acquiring state approvals

X Money is expected to launch later this year, bringing support for digital payments to X, the microblogging platform previously known as Twitter. Tesla CEO Elon Musk has been teasing the X Money payments service for the past three years. While the billionaire has yet to announce a launch date for the service, Musk recently said that the network infrastructure will undergo limited beta testing before it is launched. This network is aligned with Musk's vision of transforming X from a microblogging platform to an "everything app".

X Money Beta Testing Ahead of Anticipated Launch in 2025

On Monday, an X account (@teslaownerssv), posted claims about the upcoming X Money platform. It was claimed that X Money would be launched soon and that the "everything app" will become even bigger with payments and banking services. Musk, who is highly active on X, responded to the post stating, "This will be a very limited access beta at first," the Tesla chief noted. "When people's saving are involved, extreme care must be taken."

As per reports, this X Money platform is expected to support crypto transactions, especially those being facilitated through Bitcoin.

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Musk is working with Visa to facilitate transactions initiated via X Money. The service's handle on X confirms that the service is set to launch in 2025.

Another milestone for the Everything App: @Visa is our first partner for the @XMoney Account, which will debut later this year.

:moneybag:Allows for secure + instant funding to your X Wallet via Visa Direct

:identification_card: Connects to your debit card allowing P2P payments

:bank: Option to instantly…
— Linda Yaccarino (@lindayaX) January 28, 2025

X Money: What We Know So Far

Musk has been working on support for payments on X since 2022. X Payments LLC, the firm behind the project, has reportedly secured licences in 41 states in the US.

In January 2025, insiders from the US tech industry indicated that Musk plans to get approval from all US states before launching the service.

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Another milestone for the Everything App: @Visa is our first partner for the @XMoney Account, which will debut later this year.

:moneybag:Allows for secure + instant funding to your X Wallet via Visa Direct

:identification_card: Connects to your debit card allowing P2P payments

:bank: Option to instantly…
— Linda Yaccarino (@lindayaX) January 28, 2025

Musk acquired X for $44 billion (roughly Rs. 3,75,558 crore) in October 2022. He introduced several changes in the working of the platform, which now allows users to purchase a subscription that adds a verification tick to their profile.

This week, Musk said he is back to working 24x7 at his companies after several X users complained of most users after an outage that impacted tens of thousands of users in the US.

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Further reading: Cryptocurrency, Elon Musk, X Money, X, Bitcoin

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a ma... more »