Elon Musk’s X Money Enters Beta Testing

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Elon Musk’s X Money Enters Beta Testing with 41 Licenses Already Secured

Written by Aaron S.,

Editor-In-Chief

Last Updated: May 27, 2025

Key Takeaways

Elon Musk confirmed that X Money is in the early testing phase, which will start with very limited access;
X has obtained 41 money licenses across the US, which lays the groundwork for legal money transfers;
X Money is part of Musk’s plan to turn X into a single platform for content, shopping, and payments.

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Elon Musk’s X Money Enters Beta Testing with 41 Licenses Already Secured

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Elon Musk has confirmed that X Money, the payment feature linked to his X platform, is in the early testing phase.

Musk confirmed the news on May 25 by responding to a post from a Tesla fan account, Tesla Owners Silicon Valley, that shared the update.

He noted that the beta will begin with very limited access. He also added that extra caution is needed when handling people’s savings.

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In January, lines of leaked code suggested work on X Money was further along than expected. The platform’s official posts have also hinted at plans to go live in 2025.

The company has been working to get the necessary state-level approvals. X has secured 41 money transmitter licenses across the US. These licenses are needed to legally move money between users in different states.

The idea of adding payments to the X platform has been part of Musk’s plan since October 2022. When he bought Twitter for $44 billion, he described it as a step toward building "X, the everything app". In 2023, Twitter was renamed X, and CEO Linda Yaccarino stated that the platform's goal was to allow users to share content, shop, and send money—all in one place.

That announcement led many to believe that X might eventually support cryptocurrencies, including Bitcoin BTC $106,918.53 and other digital assets, which added to the speculation.

Recently, Musk dismissed a Wall Street Journal report claiming Tesla was searching for a new CEO. What did he say? Read the full story.