X Money digital wallet launches in the United States

Elon Musk’s X platform has introduced X Money, a digital wallet that combines payment, banking and debit‑card services. The rollout begins in the United States, initially available to X Premium and Premium+ subscribers. Users receive a Visa‑linked debit card, can store and transfer money, earn up to 6 % annual interest on balances, and enjoy cash‑back rewards of up to 3 % on eligible purchases. Transfers between X users are free and instant.

X Money is built in partnership with Visa, which provides the payment infrastructure, and Cross River Bank, which holds user deposits and insures them up to US$250,000. The service is not a bank and does not require a banking licence at launch. While the product is now open to U.S. users, a European release has not yet been scheduled.