Elon Musk launches X Money, X-branded Visa card. See new feature

The social media platform is creating a way for users to send money to each other. How to access X Money and obtain an X Visa debit card.

• Elon Musk's X platform has launched 'X Money,' a new fund transfer feature and an X-branded Visa debit card, partnering with Cross River Bank.
• The invite-only service offers features like FDIC insurance up to $250,000, 6.00% APY for Premium+ users with direct deposit, and 3% cash back on eligible purchases with the Visa card.
• This move integrates financial services directly into the social media platform, aiming to expand user access and utility.

Topics: Payment system integration, Institutional adoption, Stablecoin payments remittances, Payment network integration

Tags: #xmoney #elonmusk #visacard #crossriverbank #fdicinsured #premiumusers #cashback #apy #fundtransfer #socialmediaplatform

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X Money launches US payments with yields up to 6%

X Money has begun rolling out to Premium and Premium+ subscribers in the United States, adding deposit accounts, instant transfers, and a Visa debit card directly to the social media platform. X Money brings banking tools inside the social platform…

• X Money has launched in the US for Premium subscribers, integrating banking services like deposit accounts, instant transfers, and a Visa debit card directly into the social media platform.
• The service offers annual yields up to 6%, 3% cashback on eligible card purchases, and up to $10 million in FDIC coverage through a cash sweep program, powered by Cross River Bank.
• Despite Elon Musk's past support for cryptocurrencies, X Money currently operates solely as a dollar-based financial service and does not support any digital assets.

Topics: Institutional adoption, Payment system integration, Asset types, Banking depository pilots, Payment network integration, Stablecoins digital cash

Tags: #xmoney #uspayments #yields #depositaccounts #visadebitcard #socialmediaplatform #fdiccoverage #crossriverbank #elonmusk

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