Elon Musk's social media company X (formerly Twitter) is preparing to launch its first digital payment service X Money by the end of this year. Musk himself has shared this information through a post informing that initially this service will be available as a beta trial for limited users. The project has been in the works for several years, and Musk has been planning to launch it since the Twitter acquisition.
Beta trial will start soon
In a recent update, Musk said that the technical infrastructure of X Money is ready and its beta trial will be started soon. This beta phase will be the first big step towards making this much-awaited service available to all users.
Everything App
Musk aims to develop X as an Everything App, not just a social media platform. In this app, users will get facilities like messaging, online shopping, banking and digital payments in one place. X Money is part of this vision, which will allow users to send, receive and manage the money stuck inside the app.
Crypto and partnership with Visa
According to reports, cryptocurrencies, especially bitcoin, will also be included as a payment option in this service. Also, Musk is working with companies like Visa to create a system of fast and convenient transactions.
Public launch in 2025
X's official payment handle has informed that X Money will be publicly launched in 2025. Musk plans to launch it after getting approval from all 50 states of the US, so that the service can be started without any hindrance. "I am working 24×7 again, sleeping in the factory or meeting room," said Elon Musk
A big step towards digital future
X Money is part of Musk's dream in which he wants to make X a super app where every digital need - be it payment, banking or crypto - can be fulfilled on a single platform.
Prakash Kumar Pandey