What You Need To Know About Elon Musk’s X Money
Written by
Madeline Duley
Edited by
Rebekah Evans
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Elon Musk seems allergic to boredom as the billionaire is spearheading yet another venture: X Money. For Musk, co-founding seven companies wasn’t enough. Now — under his leadership — a new, ambitious payment system is in the works. With details already leaked, GOBankingRates is here to share the inside scoop on what X Money is all about.
While much remains under wraps, here’s everything we know so far about X Money.
Also here are three ways Musk is set to get even more rich.
When Is It Launching?
Linda Yaccarino, CEO of X Corp (formerly known as Twitter), revealed at the 2025 Consumer Electronics Show (CES) in Las Vegas that X Money will roll out in 2025.
“In 2024, X changed the world. Now, you are the media. 2025 X will connect you in ways never thought possible. X TV, X Money, Grok and more. Buckle up,” Yaccarino said, teasing the launch.
What Is X Money?
During her keynote at CES, Yaccarino described X Money as a groundbreaking system that will redefine how users expect a social media platform to be, revolutionizing payments and creating new opportunities for creators on the platform.
Musk’s involvement in X Money reflects his early career in fintech. He co-founded PayPal in 1999, making his new venture with X Money feel like a full-circle moment in his career.
“It’s amusing that he is calling this company X when X.com was Musk’s original company that he merged with Peter Theil’s company, Confinity, back in 2000 to create PayPal,” said Crystal Stranger, lawyer, enrolled agent (EA), senior tax director and CEO of OpticTax.com. “It seems like Musk is trying to go back to his original basics with owning finance.”
Leveraging his experience from the early days of online payment systems, Musk’s vision for X Money appears to be just one piece of a much larger puzzle.
Getting State Approval
Since Musk’s purchase of Twitter in 2022, X has been working to secure money transmitter licenses (MTLs) from every state and territory. To date, the platform has received MTLs from 41 states (according to its website) but is still awaiting approval from key states including New York, South Dakota and Hawaii.
Despite this, X plans to forge ahead with its launch.
“New X code has just shipped that reveals X Payments will launch without approval from all 50 states,” said Alex Finn, X influencer. “Meaning X Payments could launch today.”
Securing MTLs is only the first step in creating a one-stop shop financial super-app. To offer direct shopping to users in-stream, X must also obtain “payment processor” approvals in every state. And that’s just for the U.S., international expansion may present additional roadblocks.
Long-Term Goals
When Musk acquired Twitter in 2022, turning the platform into a payment powerhouse was always his long-term goal. Going beyond his previous venture with PayPal, Musk aims to build X into an “everything app,” as reported by Business Insider.
Often described as the Swiss army knife of apps, super apps consolidate a multitude of functions into a single platform. In China, such an app already exists with WeChat, which boasts over 1 billion monthly users. The platform is used daily for everything from hailing taxis, sending money to friends and shopping for a new backpack — all in one place.
“You basically live on WeChat in China because it’s so usable and helpful to daily life,” Musk said in his first meeting with Twitter employees in 2022. “I think if we can achieve that or even get close to that at Twitter, it would be an immense success.”
Musk’s visions for X in the U.S. parallel what WeChat offers in China. The expansion of X and the rollout of X Money mark the first step toward this goal. The platform aims to become a “digital dashboard” where users can send and receive peer-to-peer (P2P) payments, store funds and view transaction histories.
Although specific details about how creators will be able to benefit from X Money remain unclear, we can expect plenty of updates throughout 2025 as the platform evolves to seamlessly integrate financial services into its social platform.
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