According to multiple media reports on Wednesday (Jan. 8), the company is planning to roll out X Money this year.
During a speech at CES 2025, X CEO Linda Yaccarino announced an upcoming launch of the payment system, which aims to change both payments and creator opportunities on the platform, CNBC reported.
Yaccarino had earlier noted that X has been working to acquire money transmitter licenses across various states to facilitate transactions in a bid to become a super app, similar to China’s WeChat. The introduction of X Money aims to integrate financial services seamlessly into the social media experience.
According to a report from the Economic Times, newly shipped X code reveals that the new system may launch even before the company has received approval from all 50 U.S. states.
Citing X influencer Alex Finn, who first leaked the information, the publication said X Money is likely to support cryptocurrency payments in one form or another, whether in the form of bitcoin, stablecoins or other forms of blockchain-based payment rails.
Advertisement: Scroll to Continue
Turning X into a super app has long been a goal of owner Elon Musk.
In 2023, PYMNTS reported that Musk had hoped for X to become a payments super app by 2024.
“When I say payments, I actually mean someone’s entire financial life,” Musk said at the time. “If it involves money, it’ll be on our platform. … It would blow my mind if we don’t have that rolled out by the end of next year.”
Despite Musk’s enthusiasm, X Money’s rollout may face legal hurdles.
When X sought to acquire a money transmitter license in New York, New York City law firm Walden Macht Haran & Williams (WMHW) sent an open letter to attorneys general and banking commissioners in all 50 states in September 2023, arguing that X be considered “unfit” for a money transmitter license, PYMNTS reported in October.
The firm had sued Twitter for helping Saudi Arabia carry out a “long-running campaign of transnational repression,” and claimed Musk deepened the company’s ties to the kingdom after he took ownership.
X withdrew its money transmitter license in April, per information from the New York Department of Financial Services.
