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- Elon Musk has expanded X Money to a select group of premium users in the US, bringing X closer to his long-term vision of creating an “everything app” that combines social media, messaging and digital payments.
- Dhruv Batura, who now heads X Money, stated that the service is being opened up to more users as the company gradually widens access.
- X Money is being built as a digital wallet inside the X ecosystem, allowing users to send and receive money, hold funds and eventually tap into a wider range of financial services.
- The service runs on Visa Direct, following a partnership between X and Visa announced earlier this year.
- The company has also secured more than 25 money transmitter licences across US states, a crucial regulatory step that allows it to operate financial services in multiple jurisdictions.
- Premium subscriptions, which begin at $8 a month, already come with perks such as fewer ads, creator monetisation tools and improved visibility on the platform.
- A broader rollout is expected in the coming months, subject to further testing and regulatory clearances.
- Since buying Twitter in 2022, Musk has repeatedly spoken about his desire to build an “everything app” modelled on China’s WeChat — a platform that combines messaging, payments, shopping, ride-hailing and other digital services in one place.
- If X Money gains traction, users could eventually tip creators, split bills, pay for subscriptions or buy digital content without switching apps.
- The Visa partnership also lends credibility to the effort, though trust, security and regulatory compliance will be critical if X wants users to treat it as more than just a social platform with a payments tab.
Elon Musk's X Money has begun its rollout to premium users in the US, marking a significant step towards Musk's ambition of creating an 'everything app' akin to China's WeChat. The service, which operates on Visa Direct, allows users to send and receive money, hold funds, and access various financial services.134
Dhruv Batura, head of X Money, confirmed that the service will gradually expand its user base. Currently, premium subscriptions start at $8 a month and offer benefits like fewer ads and enhanced creator monetization tools. The company has secured over 25 money transmitter licenses across US states, enabling it to provide financial services in multiple jurisdictions.26
Musk's vision includes features that would allow users to tip creators, split bills, and purchase digital content without leaving the app. The partnership with Visa adds credibility to the initiative, but trust, security, and regulatory compliance will be essential for user acceptance beyond a social platform.9
Since acquiring Twitter in 2022, Musk has emphasized his goal of developing a comprehensive platform that integrates messaging, payments, shopping, and more, similar to WeChat's model. A broader rollout of X Money is expected in the coming months, pending further testing and regulatory approvals.
“Elon Musk has expanded X Money to premium users in the US, moving closer to his vision of an 'everything app.' The service, which operates on Visa Direct, aims to integrate social media, messaging, and digital payments.”
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