Musk confirms X Money beta testing ahead of planned 2025 launch

Elon Musk Announces X Money Beta Testing for 2025 Launch

Elon Musk has confirmed that X Money, a payment and banking app developed by his social media platform X, has entered beta testing, with a full launch planned for 2025. The announcement signals a significant step toward realizing Musk’s vision of transforming X into an “everything app” integrating financial services.

X Money Enters Limited Beta

On May 25, 2025, Musk revealed via an X post that X Money has begun a “very limited access beta” to ensure utmost caution, given the sensitivity of handling users’ savings. The app, first teased in 2022 following Musk’s acquisition of Twitter (now X), aims to offer banking, payments, and potentially other financial services within the X ecosystem.

Musk emphasized the need for rigorous testing, stating, “When people’s savings are involved, extreme care must be taken.” The beta phase will initially involve a small user group to refine the platform’s functionality and security before a broader rollout.

Building the “Everything App”

X Money aligns with Musk’s ambition to create a super-app akin to WeChat, combining social media, messaging, and financial services. X CEO Linda Yaccarino previously announced on December 31, 2024, that X Money would debut in 2025, with further details shared in January 2025. Speculation on X suggests the app could integrate with existing payment providers like Stripe or be built from the ground up, potentially supporting cryptocurrencies like Bitcoin.

Additionally, reports indicate X is developing an X Card, a Visa-powered debit card integrated with X Money, further expanding its financial offerings. These moves position X to compete with fintech giants like PayPal and Square while leveraging its social platform’s vast user base.

Challenges and Context

The beta testing announcement follows earlier reports of software code leaks in January 2025, hinting at an imminent launch. However, Musk’s broader business ventures, including Tesla and xAI, have faced scrutiny, with Tesla reporting a 20% drop in automotive revenue in Q1 2025 and X experiencing a revenue decline in the UK post-acquisition. Regulatory challenges also loom, with the EU considering a $1 billion fine against X for content-related issues, which could impact its financial initiatives.

Despite these hurdles, Musk’s focus on X Money reflects a shift from his recent political engagements, including his role in the Trump administration’s Department of Government Efficiency (DOGE), which he stepped back from in May 2025 to prioritize his businesses.

Looking Ahead

X Money’s beta testing marks a pivotal moment for X’s evolution into a multifaceted platform. While the limited beta ensures a cautious approach, the app’s success will hinge on robust security, user adoption, and navigating regulatory landscapes. As Musk continues to push boundaries in fintech, X Money could redefine how social media and financial services intersect in 2025.