- Elon Musk quietly launched a limited beta test for X Money as part of his plan to transform X into a super app.
- X Money has been in development since 2022, with backend work and regulatory licenses already underway.
- US Senator Elizabeth Warren warns that X Money is the next step in Musk’s plan to dismantle financial safeguards and to expand X Money’s reach into user’s financial lives.
Elon Musk has taken the next step in transforming X (formerly known as Twitter) into a multifunctional super app, with the quiet rollout of X Money’s limited beta test now underway. Responding to an X post by Tesla Owners Silicon Valley, an Elon Musk and Tesla fan account, Musk confirmed on 26 May 2025 that testing had commenced but emphasised caution.
This will be a very limited access beta at first. When people’s savings are involved, extreme care must be taken.
Elon MuskThe official X Money account has indicated a 2025 launch, but no exact date has been confirmed.
X Money has been in development for years, with Musk first hinting at integrated payments in 2022 after acquiring Twitter. Upon rebranding the platform, leadership shared plans to expand the platform beyond social media into a global marketplace focused on commerce, entertainment and finance.
Early last year there were signs that X Money was in the works, with leaked codes hinting at backend development for payment functionality. X has also been working to meet regulatory requirements and has acquired 41 money transmitter licenses across the US as of May 2025. These licenses are another essential step towards legally offering financial services across the country.
Related: Elon Musk Renames X Account to Harry Bōlz, Sparks Surge in Related Meme Coins
Concerns Over Consumer Protection
Musk’s moves have not been without controversy. US Senator Elizabeth Warren has been one of the most vocal critics about Musk’s growing influence over digital platforms, financial infrastructure and the government. In a February 2025 speech outside the Consumer Financial Protection Bureau (CFPB) she accused Musk of working to dismantle key consumer safeguards to advance his own financial ambitions.
Elon Musk owns “X,” which has been losing money like crazy. So Elon has a plan for a new payment platform called “X Money”. Elon wants X Money to touch every part of your financial life.
Senator Elizabeth WarrenWhile full details of X Money remain under wraps, there is speculation that it will include support for cryptocurrencies – specifically Bitcoin, as is consistent with Musk’s previous interest in blockchain technologies.
If successful, X Money will be X’s most significant move yet, taking it from social media platform to financial ecosystem.
Related: Anthony Scaramucci Predicts Crypto Will Power Elon Musk’s Future Super App
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