Elon Musk’s X Money Enters Beta Testing: Will Crypto Be Part of the ‘Everything App’?
Elon Musk has confirmed that beta testing for X Money, the long-anticipated financial feature of the platform formerly known as Twitter, is officially underway. The limited beta marks a significant step toward the app’s full rollout, planned for 2025.
“Extreme care must be taken when people’s savings are involved,” Musk wrote in a post on X, highlighting the cautious approach the company is taking with early trials.
The announcement came after Tesla Owners Silicon Valley, a well-followed fan account, shared an update about the platform’s progress. Musk responded directly to the thread, confirming the soft launch and emphasizing its limited scope.
From Tweets to Transactions
The vision for X Money dates back to October 2022, when Musk described his $44 billion Twitter acquisition as “an accelerant to creating X, the everything app.” His broader ambition: transform X into a one-stop hub for social interaction, content, commerce, and now, finance.
By 2023, the company had rebranded from Twitter to X under CEO Linda Yaccarino, who outlined a roadmap including payments, banking, and “unlimited interactivity” across formats. Since then, the platform has been quietly securing money transmitter licenses across the United States, with 41 reportedly obtained so far, laying the groundwork for a nationwide financial service.
A Cautious Rollout
Despite rumors sparked by earlier code leaks suggesting a 2024 release, X Money’s timeline has shifted slightly. The current beta is tightly controlled, with access limited to select users. Sources close to the project suggest that the platform is still refining its compliance and security architecture before a broader debut.
The move comes at a time when financial privacy and tech industry regulation are under growing scrutiny. Notably, U.S. Senator Elizabeth Warren criticized the initiative earlier this year, claiming Musk’s aim is to “get everyone’s personal financial data” while dismantling consumer protections.
Crypto or Not?
Since Elon Musk first hinted at transforming X into an “everything app,” speculation has swirled around whether cryptocurrencies will be part of the financial ecosystem he envisions. While X Money’s current beta testing phase includes no official mention of digital asset integration, the crypto community is watching closely.
Musk’s previous public support for digital currencies, particularly Bitcoin and Dogecoin, has fueled expectations that X Money could eventually support crypto payments, tipping, or wallet functionalities. His earlier tweets have moved markets, and both Tesla and SpaceX have dabbled in Bitcoin holdings, reinforcing the perception that Musk sees value in decentralized finance.
The absence of explicit crypto features in the initial beta may be strategic, reflecting regulatory caution or a phased rollout. But given Musk’s affinity for tech disruption and his enormous influence in the crypto space, it would not be surprising if digital assets become part of the X Money roadmap, especially as the platform moves toward broader financial services.
For now, the crypto angle remains a question mark. But with Musk at the helm, few doubt it’s still in play.
