X, the platform once called Twitter, has started rolling out X Money—its new financial service—to a limited group of Premium Plus subscribers. The announcement came from Benji Taylor, head of design at X, who shared a demo video showing what the feature can do.
What X Money Offers at Launch
Based on that video, X Money currently handles three types of transactions: rent payments, standard bank transfers, and peer-to-peer money transfers. The interface looks straightforward, aiming to make everyday financial tasks happen inside X without needing separate apps. For now, this is only available to the highest-tier paying users.
What’s missing, though, is cryptocurrency support. That’s a little surprising, considering Taylor previously founded Los Feliz Engineering, the company behind the self-custodial crypto wallet called Family. His background in crypto product development led many to think X Money might include digital assets right away. But at this stage, it’s purely fiat-based.
Context and Implications
This move fits into X’s larger plan to become an “everything app,” a vision Elon Musk has talked about often. Adding financial tools could boost user engagement and give X new revenue streams, reducing its reliance on ads.
Why no crypto? It might come down to regulatory pressure. Financial apps that include cryptocurrencies often face scrutiny around consumer protection and anti-money laundering rules. X might be playing it safe: launch with basic banking-like features, then add crypto later once the compliance groundwork is solid.
For Premium Plus subscribers, X Money adds some convenience. It could mean fewer trips to Venmo or your bank’s app for simple payments. But availability is still limited—there’s no word yet on when the rest of us might get access.
Competition is tough here. Venmo, Cash App, and PayPal already have strong user bases. X Money will need to be easy to use, secure, and well integrated with X’s social features to stand out.
Looking Ahead
X Money’s launch is a concrete step toward X’s financial ambitions, even if it lacks the crypto twist many expected. For now, it’s a test with a small group. The next few months should tell us whether the service grows—and whether any surprises are in store.
