Musk Confirms Beta Test of X Money with “Extreme Care”
X Money, the payment and banking service formerly touted by Elon Musk after the Twitter acquisition, has launched in beta. Musk confirmed the news in a May 25 X post, formerly known as Twitter.
Beta Testing Launches with Limited Access
The initial rollout of X Money will be “very limited access beta,” Musk said. “When people’s savings are involved, extreme care must be taken,” the billionaire added.
The confirmation was made during a tweet by Tesla Owners Silicon Valley, a fan account, announcing the pending launch on Twitter. Musk responded directly, affirming that X Money testing has begun.
Full Launch Expected in 2025
According to X Money’s official account, the service is still on course for a broader release in 2025. This aligns with earlier rumors and software leaks suggesting a possible release as early as 2024.
As of May 2025, X has acquired 41 money transmitter licenses within the United States, which suggests serious regulatory preparatory efforts for nationwide operations.
From Twitter to X: The Evolution of the Everything App
Musk’s plans for a payments platform trace back to 2022 when he had stated Twitter was “an accelerant to creating X, the everything app.” The rebranding of 2023 to X came with CEO Linda Yaccarino establishing the vision for a platform with “unlimited interactivity” and the ability to integrate payments.
Speculation has risen that the platform will be able to take cryptocurrencies like Bitcoin, making it even richer in fintech functionality.
Political Pushback and Regulatory Scrutiny
Washington has not ignored the development of X Money. After President Trump’s naming of Musk to head the Department of Government Efficiency’s Workforce Optimization Initiative (DOGE), critics were not slow to sound the alarm.
Senator Elizabeth Warren, indeed, charged that Musk was using X Money to reap financial information on individuals, citing his decision to dismantle the Consumer Financial Protection Bureau.
Despite political resistance, the beta launch is a major milestone in Musk’s long struggle to transform X into a viable financial network.
