X Money Rollout Fuels Expectations for Crypto Payments on X
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X, the social media platform formerly known as Twitter, has begun rolling out its in-house payment service X Money, fueling expectations that it could eventually add cryptocurrency payment features.
Catenaa reported on July 2 that X started a phased launch of X Money for Premium Plus subscribers. Media reports said the service was made available to US Premium and Premium Plus users on June 26, following beta tests for select users in March and April.
X Money currently operates on payment infrastructure from Cross River Bank. Users can send and receive fiat currency within the platform. Some users also receive a Visa debit card and interest on deposits, according to reports.
X Money is a core part of Elon Musk's strategy to turn X into an "everything app." Musk has repeatedly outlined plans to build X into a platform that combines social media, messaging, e-commerce, payments and financial services.
Some market participants expect X to eventually add crypto payment options, including XRP or stablecoins, citing Cross River Bank's history of working with blockchain and fintech companies.
