X Money will launch in the US starting today

X Money, a key part of Elon Musk’s mission to turn X into “Everything app“, will be launched starting today, 9to5Mac Reports. the Payment platform It offers a digital wallet and peer-to-peer payments similar to Venmo, along with a metal Visa card that Visa card users can embellish with their X username. Other perks include Apple Wallet support and free money transfers on X. It also advertises “up to” 6 percent APY, but only Premium Plus subscribers get these benefits. Eligible for this – Standard Premium subscribers have to deposit a certain amount of money to get an “enhanced” 6 percent annual return.

Previously limited to an invite-only beta, X Money will now be available to X Premium and Premium Plus subscribers in the US. The launch comes a few months after Elon Musk’s launch He said The payment platform launched “general early access” in April.

Earlier this year, Sen. Elizabeth Warren It raised safety concerns About X Money, he wrote that it could pose risks to “consumers, our national security, and the stability of the financial system.” Launching a payment platform on X has been Musk’s mission for a while – in 2023, he said. During the X staff meeting That “if it’s about money, it’ll be on our platform.”