X Money begins rolling out in the US today

Autore · Nora Albrizzi

What happened. X is launching its digital wallet and peer-to-peer payment service for Premium subscribers in the United States, offering a customizable Visa card and yields of up to 6 percent.

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X Money, a key part of Elon Musk’s plan to turn X into an “everything app,” begins rolling out today, according to 9to5Mac. The payment platform includes a digital wallet, Venmo-style peer-to-peer payments and a metal Visa card that users can personalize with their X username.

Other features include Apple Wallet support and free money transfers on X. The service also advertises an annual percentage yield of “up to” 6 percent. Only Premium Plus subscribers qualify automatically, while standard Premium subscribers must deposit a specified amount to receive the enhanced 6 percent yield.

Previously available only through an invitation-based beta, X Money will now be offered in the United States to X Premium and Premium Plus subscribers. The launch comes several months after Musk said early public access to the payment platform would begin in April.

Earlier this year, US Senator Elizabeth Warren raised concerns about X Money’s security.

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