{"id":130008,"date":"2025-05-26T16:15:44","date_gmt":"2025-05-26T16:15:44","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=130008"},"modified":"2025-05-26T16:15:44","modified_gmt":"2025-05-26T16:15:44","slug":"musk-confirms-x-money-beta-testing-ahead-of-planned-2025-launch","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=130008","title":{"rendered":"Musk confirms X Money beta testing ahead of planned 2025 launch"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsX Money, the payment and banking app tipped by Elon Musk in 2022 after he acquired Twitter, has started beta testing, Musk confirmed in an X post on May 25.<br \/>\nTesla Owners Silicon Valley, a fan X account focused on Elon Musk and Tesla, took to X on May 25 to report that Musk has confirmed that X is \u201claunching X Money soon.\u201d<br \/>\nSource: Elon MuskThe billionaire businessman subsequently jumped on the X thread to confirm the news, writing that the test will be a \u201cvery limited access beta at first.\u201d<br \/>\n\u201cWhen people\u2019s saving are involved, extreme care must be taken,\u201d he wrote.<br \/>\nX Money expects launch in 2025<br \/>\nMusk\u2019s confirmation comes amid X Money\u2019s planned launch this year,\u00a0according\u00a0to the platform\u2019s X account.<br \/>\nSource: X MoneyMusk\u2019s silent confirmation of X Money trials followed a series of reports suggesting the platform may launch this year based on alleged software code leaks in January.<br \/>\nX has been actively working to obtain multiple transmitter licenses for X Money across the United States, having secured 41 such licenses at time of publication, according to the Nationwide Multi-State Licensing System.<br \/>\nX Money plans date back to 2022<br \/>\nSome of the early public indications of Musk\u2019s plans to integrate payments into X date to October 2022, when Musk referred to his $44 billion Twitter acquisition as \u201can accelerant to creating X, the everything app.\u201d<br \/>\nIn 2023, Twitter rebranded to X, with CEO Linda Yaccarino disclosing that the social media app planned to feature \u201cunlimited interactivity,\u201d support multiple media formats, and feature payments and banking. At the time, many speculated that the platform would likely support cryptocurrencies like Bitcoin (BTC).<br \/>\nThe payment platform was reportedly expected to be launched in mid-2024.<br \/>\nRelated: OpenAI is building &#8216;X-like social network&#8217; to rival Elon Musk \u2014 Report<br \/>\nThe platform apparently gathered more steam with US President Donald Trump taking office in January and appointing Musk as the head of the Department of Government Efficiency\u2019s Workforce Optimization Initiative (DOGE).<br \/>\nHeavily involved in administration through DOGE, Musk quickly received pushback from US officials like US Democratic Senator Elizabeth Warren, who criticized X\u2019s payment platform plans in February.\u00a0<br \/>\n\u201cMusk 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\u2019s personal financial data,\u201d Warren said, referring to Musk\u2019s efforts to dismantle her agency, the Consumer Financial Protection Bureau.<br \/>\nMagazine: Crypto wanted to overthrow banks, now it\u2019s becoming them in stablecoin fight<a href=\"https:\/\/cointelegraph.com\/news\/elon-musk-confirms-x-money-beta-testing-launch-2025?utm_source=rss_feed&amp;utm_medium=rss%3F933c%3D1748276028&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsX Money, the payment and banking app tipped by Elon Musk in 2022 after he acquired Twitter, has started beta testing, Musk confirmed in an X post on&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/130008"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=130008"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/130008\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=130008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=130008"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=130008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}