X Money Officially Launches in the US with Visa Card and Apple Wallet

Elon Musk's X Money payment platform exits invite-only beta, rolling out to X Premium and Premium Plus subscribers with a metal Visa card, peer-to-peer payments, and up to 6% APY.

Elon Musk's long-promised "everything app" took a concrete step forward Monday as X Money officially launched to X Premium and Premium Plus subscribers across the United States, moving beyond its invite-only beta phase.

The payment platform, first teased by Musk in 2023, includes a digital wallet with peer-to-peer payments similar to Venmo, a physical metal Visa card users can customize with their X username, and Apple Wallet support for contactless payments. Free money transfers between X users are included at no cost.

A standout feature is the advertised "up to" 6% annual percentage yield on deposits, though this rate is only available to Premium Plus subscribers by default. Standard Premium subscribers can unlock the same rate by depositing a qualifying amount, according to X's interest FAQ.

The launch arrives months later than Musk's April timeline for "early public access." But it marks the most significant expansion yet of X beyond social media into financial services — a pivot Musk previewed in 2023 when he told staff, "If it involves money, it'll be on our platform."

Not everyone is celebrating. Senator Elizabeth Warren raised concerns earlier this year that X Money could pose risks to "consumers, our national security, and the stability of the financial system." X has not publicly addressed those concerns as part of the launch.

The rollout is US-only for now. No international timeline has been announced.

Sources: The Verge, 9to5Mac