Elon Musk’s X Money Moves Toward Cryptocurrency Payments

Elon Musk’s X platform, formerly known as Twitter, has begun beta testing its new payments and banking application, X Money, with a broader rollout expected by late 2025[1]. This step is part of Musk’s ongoing effort to expand X from a social media site into a multi-service platform.

Currently, X Money beta is available to a limited number of users. Musk has stressed the need for caution when handling user finances, stating, “When people’s savings are involved, extreme care must be taken”[2]. This careful pace reflects previous experiences in digital payments, emphasizing security and regulatory compliance as priorities for the new service.

Earlier this year, X CEO Linda Yaccarino announced that X Money would launch in partnership with Visa by the end of 2025. The platform is intended to support peer-to-peer payments and debit card transactions, as well as instant bank transfers[3]. As of June 2025, X Payments LLC holds money transmitter licenses in 33 U.S. states, which are necessary to conduct business in those jurisdictions. X Money does not yet have a license for the state of New York, limiting its ability to serve users in one of the largest U.S. financial markets[5].

There has been significant public interest in whether X Money will include cryptocurrency support, especially given Musk’s known interest in digital assets like Dogecoin. However, official statements about X Money have not referenced plans for cryptocurrency integration[6]. This has led to disappointment among some cryptocurrency advocates. Despite the lack of explicit confirmation, speculation continues because of Musk’s earlier work in payments technology—beginning with his creation of X.com in 1999, which later became PayPal[7]—as well as his frequent public comments about digital currencies.

X’s wide user base is another factor fueling speculation. The platform has close to one billion total users, with about 40% considered highly active[8]. If X were to launch payments with cryptocurrency options, it could affect the broader digital economy.

Since Musk acquired Twitter for $44 billion in October 2022, he has rebranded the company as X and pursued efforts to merge social media with payments and other digital services[9]. In spring 2025, xAI—Musk’s artificial intelligence company—acquired X in an all-stock deal valued at $33 billion, absorbing $12 billion in debt[10]. These actions reflect Musk’s long-term strategy to build X into a platform with capabilities similar to multi-purpose Asian apps like WeChat[8].

At present, the exact role that cryptocurrencies will play within X is not clear. Nonetheless, the establishment of necessary technology and moves toward regulatory compliance have prompted global interest in how Musk’s plans could influence digital currency adoption.