2026-04-27 10:30
publication
2026-04-27 10:30
X Money – this will most likely be the name of the banking and payment platform that Elon Musk decided to connect to X, creating an application for everything. This is a financial services tool that will offer, among others: cashback function for purchases, free transfers between users and a savings program with an interest rate of 6%.
A new – additional – function X, i.e. banking, is to be launched this quarter. This is another step towards realizing its goal, i.e. transforming X into an application that can be used to do “everything”. To launch X Money, Musk had to obtain a license in 50 states. There are still a few missing, including the crucial New York. It has already had its first tests and so far users praise it.
Musk's super app is taking shape
What do we know so far about Musk's “bank”? It offers:
- 3 percent cashback;
- savings interest rate of 6%, which is significantly higher than competitive financial services
- a metal Visa debit card that the user can personalize;
- free transfers between users using chat on X or directly through profiles;
- concierge based on xAI, developed by Musk's start-up, which, among others, monitors expenses.
However, there are more unknowns behind the super app. For now, it is kept a deep secret, among others: price list, set of functions and date of general availability. The use of artificial intelligence to track transactions is a signal that the billionaire wants to collect as much data as possible regarding creating a pattern of consumer spending.
It is also unknown whether it will expand X Money to include loans and credits.
Step by step to Elon Musk's financial empire
It is impossible not to notice that when designing financial functions
We want it to be a place where – if you wanted – you could live your entire life in the X application
X (formerly Twitter) gives Musk incredible opportunities that other fintechs do not have, i.e. a platform with 600 million active users and experience in building a pioneering payment service thanks to PayPal. The billionaire announced the introduction of financial services to the platform two years ago.
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