Elon Musk's X and Visa partner on digital wallet, aiming to create financial ecosystem.

From CNBC: 2025-01-28 11:40:45

Elon Musk’s social media platform X launched a digital wallet and peer-to-peer payments with Visa. The X Money Account allows users to move funds between bank accounts and make instant payments. X aims to create a financial ecosystem and enable users to conduct their entire financial world on the platform.

In 2021, Twitter under Jack Dorsey introduced a bitcoin tipping feature. Musk’s X has been applying for money service business licenses for over a year. X Payments LLC is licensed in 41 states and registered with FinCEN. The X Money service is set to launch in the first quarter.

Musk hinted at X offering banking features like a high-yield money market account. Visa declined to comment. X Money will allow creators to accept payments and store funds without external institutions. More financial partners are expected to be added, expanding the platform’s capabilities.

Read more: Elon Musk’s X partners with Visa to offer digital wallet