X Money launches with bank-like features

Following its 2025 announcement, X Money moved into a wider rollout in 2026 with genuine banking features: a digital wallet supporting peer-to-peer transfers and direct deposit, interest on balances, an all-black X debit card, and FDIC-insured deposits held through partner bank Cross River. X Corp. obtained money-transmitter licenses across roughly 40 US states, covering most of the population.

It marks Musk's full-circle return to fintech, more than two decades after the online bank he founded as X.com merged into PayPal. The difference now is distribution: X Money launches into a platform with hundreds of millions of users and an "everything app" strategy that ties payments to social, messaging, creator payouts and AI.

If it works, payments become the connective tissue that lets X monetise without leaning solely on advertising, and gives creators and users a native way to move money. The licensing and bank partnerships are the unglamorous groundwork that turns the everything-app vision from slogan into a regulated, operating product.