Entrepreneur Elon Musk's online platform X has launched a banking and payment service, X Money, in the United States. The new offering has been available since Monday to American users with a paid account and allows them to manage money directly within the app without having to switch to another service. SITA ↗
The offering also includes a Visa debit card. Through X Money, users can deposit money, pay bills, make transfers, and send money to one another instantly and free of charge. The service thus expands the functions of the X platform from social networking toward financial services and creates competition for existing payment services, including PayPal. Deutschlandfunk ↗
The launch of X Money follows Musk's long-standing effort to expand the X platform with additional practical features. The new service is meant to connect communication, payments, and money management within a single app in the American market. Available information so far speaks only of the launch in the US, not of expansion to other countries. Deutschlandfunk ↗
Further developments will depend on user adoption and on how the service establishes itself against existing banking and payment apps. At the same time, X Money represents another step in the transformation of the X platform into a broader digital ecosystem. Der Standard ↗
X Money expands the X platform toward payments and banking services
This summary was generated by artificial intelligence. It may contain inaccuracies. Please verify information in the original sources below.
Sources (3)
🔥 You might also like
📰
Technology
X launched banking service X Money in the USA
The online platform X of entrepreneur Elon Musk has launched a banking and payment service called X Money in the United States. The novelty has been avai...
European Union
What Europe is writing about: US sends third aircraft carrier to Iran, OpenAI fires three after leak, South Korea demands apology from Kyiv
The US sends a third aircraft carrier and 10,000 troops to the Middle East, OpenAI fires three over a data leak, Korea demands an apology from Kyiv. Overview fr …
World Politics
Musk to explore the future of warfare at the Pentagon
US Secretary of Defense Pete Hegseth has tasked tech entrepreneur Elon Musk with co-leading Project Meridian, which will explore the future of warfare...
© HotInfo
From our newsroom original
All →
Kaliňák and Krúpa disagree on how Slovakia's security is best ensured
US wants talks with Ukraine and Russia at the end of October
Australia investigates the second pilot of Flydubai flight to Israel
Serbia wants Russian gas even as an EU candidate. The deal expires Wednesday, Vučić hopes for an extension
Albania is pursuing the former intelligence chief. She returned to house arrest, and messages to a fugitive businessman leaked from the case file
Moldova has declared a state of emergency in energy and hydrology. The Chișinău heating plant is seeking an 83 percent increase in heat prices, while Energocom reported an evening deficit
What Europe Is Writing About: Delegates Walked Out of Netanyahu's Speech, Vučić Announced the Time of His Resignation, Trump Hosted Xi Jinping
René Benko's Two-and-a-Half-Year Sentence for Fraudulent Bankruptcy Is Final. Neither Prosecution nor Defense Appealed