Musk’s ‘Everything App’ Dream Progresses with X Money Beta Launch

X Money—the long-anticipated payments and banking feature first hinted at by Elon Musk in 2022 following his Twitter acquisition—is finally nearing its beta launch.

The move signals a major step toward Musk’s ambitious goal of transforming X (formerly known as Twitter) into an all-in-one “everything app.”

At its core, X Money is expected to introduce a digital wallet that enables users to store funds and make peer-to-peer transfers directly within the platform.

The update gained renewed attention when Tesla Owners Silicon Valley, a fan account dedicated to Musk and his ventures, shared that the billionaire had quietly confirmed the launch was “coming soon.”

This low-key confirmation aligns with earlier leaks from January 2025, when code snippets hinted that development on X Money was well underway.

Behind the scenes, X has been aggressively pursuing money transmitter licenses across the United States, securing 41 to date, according to the Nationwide Multi-State Licensing System.

Since acquiring Twitter and rebranding it as X, Musk has consistently pushed for the integration of financial tools that could one day replace the need for traditional banks.

He has previously stated his vision is for users to complete their full suite of financial activities within X—eventually eliminating the need for a separate bank account.

While services like TikTok currently rely on external providers such as PayPal—with transfers often taking up to 72 hours—X Money is being positioned as a faster, more seamless alternative.

Visa has already stepped in as a launch partner, announcing plans to allow users to securely fund their X accounts via debit cards or linked bank accounts.

Plans for X Money Trace Back to Musk’s 2022 Roadmap

Musk’s ambition to integrate payments into X can be traced back to October 2022, when he described his $44 billion acquisition of Twitter as “an accelerant to creating X, the everything app.”

By 2023, Twitter had rebranded to X, and CEO Linda Yaccarino revealed broader plans for the platform—including “unlimited interactivity,” multimedia support, and embedded financial services like payments and banking.

This announcement fuelled speculation that X might embrace cryptocurrencies such as Bitcoin.

At the time, a mid-2024 launch for the payments platform was anticipated.

Momentum for X Money appeared to accelerate following US President Donald Trump’s inauguration in January 2025 and Musk’s appointment to lead the newly created Department of Government Efficiency’s Workforce Optimisation Initiative—fittingly abbreviated as D.O.G.E.

Musk’s increased influence in Washington drew scrutiny, particularly from Democratic Senator Elizabeth Warren, who in February criticised his payment ambitions and accused him of trying to dismantle her agency, the Consumer Financial Protection Bureau.

She noted:

“Musk has lost money hand over fist on X. So he has this idea of X becoming a big money platform where he would get everyone’s personal financial data.”

Meanwhile, Yaccarino confirmed that X Money would go live later in 2025 through a partnership with Visa.

The service would allow users to link their debit cards, fund digital wallets, and make peer-to-peer transfers—essentially functioning as a Venmo-style feature within the app.

Omission of Crypto or News Yet to be Announced?

Notably absent from both January’s announcement and Musk’s recent remarks was any mention of Dogecoin—or cryptocurrency at all.

This omission is especially striking given Musk’s long-standing affinity for Dogecoin, which he has praised for its lighthearted culture, canine mascot, and meme-driven appeal.

While Musk has previously stated that he has “not actively involved” in the crypto space, his public support has often propelled Dogecoin into the spotlight.

So, is crypto no longer part of X’s financial vision—or simply being kept under wraps for now?