Elon Musk's latest: Digital wallet 'X Money' unveiled in pact with Visa

Elon Musk’s social media platform X has unveiled its digital wallet and peer-to-peer payment service ‘X Money’ in partnership with Visa.

Linda Yaccarino, CEO of X, shared the news in a post on Tuesday, confirming that the X Money account will debut later this year.



Visa, one of the largest US credit card networks, also reposted Yaccarino’s update, highlighting that Visa Direct will allow US X Money account users to fund and transfer money in real time using their debit cards.


When Musk acquired X (formerly Twitter) in 2022, he envisioned building an "everything app," often described as the Swiss army knife of mobile apps. It aims to offer a wide range of services, including messaging, social networking, peer-to-peer payments and e-commerce shopping.

Yaccarino said the launch was “another milestone” for the platform's evolution into this super app Musk envisioned.

According to CNBC, Musk has been pursuing these licenses for over a year. As noted on its website, X Payments LLC is now licensed in 41 states and registered with the Financial Crimes Enforcement Network (FinCEN).

The announcement comes at a time when Musk has openly acknowledged X’s challenges with stagnant user growth and underwhelming revenues. “We’ve witnessed the power of X in shaping national conversations and outcomes,” he said, but also admitted that “our user growth is stagnant, revenue is unimpressive, and we’re barely breaking even.”