X Money begins testing as Musk secures 41 U.S. licenses
Elon Musk confirms beta testing of X Money payment app
Elon Musk has reignited interest in the rollout of X Money, a payments and banking application set to be integrated into his social platform X (formerly Twitter). The idea for the financial service emerged in 2022, shortly after Musk’s $44 billion acquisition of the platform. However, only now has the project moved closer to realization, as Musk becomes a visible figure in Donald Trump's presidential team.
The start of beta testing was first announced by Tesla Owners Silicon Valley — a fan account dedicated to Musk and Tesla — and later confirmed by Musk himself.
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“The beta will be initially very limited,” - Musk wrote, adding: “Extreme caution is required when dealing with people's savings.”
Rumors about a 2025 launch of X Money were reignited after a code leak in January.
Is a bright financial future approaching?
According to Cointelegraph, X is actively pursuing multiple money transmitter licenses across the U.S. and has already secured 41 of them, according to the Nationwide Multistate Licensing System.
Musk has long planned to turn X into a financial platform and has accelerated those plans since Donald Trump returned to power.
"Elon Musk lost a ton of money on X. So now he wants to turn it into a big money platform where he’ll access everyone’s financial data," commented Democratic Senator Elizabeth Warren in February.
The announcement of the beta test confirms real progress — and X Money is now likely to launch before the end of the year.
As we wrote, X Money's crypto-readiness expected by 2025
