Elon Musk aims to turn the X platform into an ‘everything app’ like China’s WeChat in the west, and one of the most important parts of this goal is the creation of a system for payments through the application. In this context, X Money will be available to users later this year and will be one step closer to transforming X into a platform that can offer a variety of services and integrate into almost every aspect of life. According to statements made by X Money’s official account, the application stands out as a solution designed ‘for all your money movements’. X’s CEO Linda Yaccarino announced that X Money’s first partner is Visa, and this partnership looks set to accelerate the platform’s expansion into financial services.

‘X Money’ is officially coming this year

X Money offers its users the opportunity to transfer money securely and promises to make these transfers quickly. Instant deposits can be made through Visa Direct, users will be able to make person-to-person payments by linking to their bank cards, and these payments can also be quickly transferred to personal banking accounts.

With the development of this system, X will try to become a major player in the world of digital payments. Initially, it is estimated that these services will be offered in the USA. However, it will not be easy to ensure the spread of X Money in different geographical regions because the financial services regulations of each country are different from each other. This means that some functions may not be available everywhere due to local laws.