Elon Musk finally launches X Money. What could possibly go wrong?
X has launched its 'X Money' payment feature for US Premium subscribers, but the rollout is hampered by significant limitations. The service lacks money transmitter licenses in major markets like New York and Massachusetts, creating friction for potential users.
Why it matters
The success of X's pivot into financial services is crucial for Elon Musk's vision of an 'everything app,' but regulatory hurdles and limited functionality may hinder widespread adoption.
Money problems Elon Musk finally launches X Money. What could possibly go wrong? Expect bumps with X Money rollout as major US financial markets are excluded.
41 Credit: Anadolu / Contributor | Anadolu Credit: Anadolu / Contributor | Anadolu Text settings Story text Size Small Standard Large Width * Standard Wide Links Standard Orange * Subscribers only Learn more Minimize to nav Imagine you’re an X user who’s actually excited to make the app your primary payments app after X Money finally launched Monday for US Premium and Premium+ subscribers after years of delays.
You transfer funds and set things up so that your paychecks automatically deposit to X, where you expect to receive cashback rewards and a high annual yield of 6 percent on your funds—a rate that’s genuinely competitive with some banks.
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