Elon Musk has quietly initiated a limited beta test for X Money, a critical component of his ambition to rework X (previously Twitter) into a super app. Musk confirmed the test’s launch on 26 May 2025, responding to an inquiry from a fan account, highlighting that initial access will be very restricted due to the sensitive nature of handling users’ finances.
The X Money account has online indications for a full launch in 2025, although a specific date has yet to be announced. Development for X Money began in 2022, with Musk hinting at integrated payment functionalities shortly after acquiring Twitter. The vision for X Money extends beyond just social media, aiming to create a comprehensive platform that intertwines commerce, entertainment, and financial services.
Speculation surrounding X Money intensified early last year when code leaks suggested backend development prioritising payment features. To comply with regulatory standards, X has already secured 41 money transmitter licenses across the United States as of May 2025, an essential step towards providing financial services legally.
However, Musk’s advanced plans have drawn criticism, particularly from US Senator Elizabeth Warren, a prominent opponent of his influence over digital platforms and financial systems. In a speech outside the Consumer Financial Protection Bureau (CFPB) in February 2025, Warren accused Musk of attempting to weaken consumer protection frameworks to promote his financial aspirations. She voiced concerns that Musk intends for X Money to permeate various aspects of users’ financial lives.
“Elon Musk owns ‘X,’ which has been losing money rapidly. He has a strategy for a new payment platform called ‘X Money,’ which he aims to integrate into every aspect of your financial existence,” Warren stated critically.
While precise details about X Money are not yet available, there’s speculation regarding its potential inclusion of cryptocurrencies, particularly Bitcoin, given Musk’s historical interest in blockchain technology. If successful, X Money could establish X as a formidable player in the financial landscape, transforming it from a social media platform into a robust financial ecosystem.
In summary, Elon Musk’s X Money aims to redefine financial services within a super app concept, despite facing significant regulatory hurdles and criticism regarding consumer protection. As developments unfold, the financial world is watching closely to see whether this initiative will reshape how users interact with their finances online.
