{"id":69757,"date":"2026-03-11T18:53:21","date_gmt":"2026-03-11T18:53:21","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/what-is-xmoney-elon-musks-new-digital-payments-platform\/"},"modified":"2026-03-11T18:53:21","modified_gmt":"2026-03-11T18:53:21","slug":"what-is-xmoney-elon-musks-new-digital-payments-platform","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/what-is-xmoney-elon-musks-new-digital-payments-platform\/","title":{"rendered":"What is XMoney, Elon Musk&#8217;s new digital payments platform?"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<\/p>\n<div id=\"\">\n<p>Elon Musk is planning to launch a new payments platform, called XMoney, in beta form to select users in April.<\/p>\n<p>In\u00a0<a href=\"https:\/\/x.com\/lindayaX\/status\/1884254005188034772\" target=\"_blank\" rel=\"nofollow noopener\">announcing<\/a>\u00a0a planned partnership between XMoney and Visa more than a year ago, then X CEO Linda Yaccarino referred to the platform as a so-called &#8220;Everything App&#8221; \u2014 a reference to the kind of all-in-one digital products that combine messaging, social networking, shopping, payments and other services in a single app, such as China&#8217;s WeChat.<\/p>\n<p>In a brief <a href=\"https:\/\/x.com\/elonmusk\/status\/2031363107839438939\" target=\"_blank\" rel=\"nofollow noopener\">post<\/a>\u00a0on social media Tuesday, Musk, also the chief executive of Tesla and SpaceX, didn&#8217;t specify when the first users will be offered early access to XMoney, which Musk previously described as a platform &#8220;intended to be the place where all the money is.&#8221;<\/p>\n<p>Here&#8217;s what to know about XMoney.<\/p>\n<h2>What is it?<\/h2>\n<p>XMoney, an offshoot of the social media platform X, is designed as a financial payments platform that enables peer-to-peer transactions, similar to services such as PayPal, Venmo or Zelle.\u00a0<\/p>\n<p>As originally conceived, the new tool will let users fund an X-branded digital wallet via Visa Direct, the card issuer&#8217;s digital payment network, according to Yaccarino&#8217;s post. Users can also connect their debit card to an XMoney account and make direct payments to other users on the platform.\u00a0<\/p>\n<p>Additional details on the new product are scant. Neither X nor Visa responded to a request for more information about XMoney, including how many people are being invited to test the app.<\/p>\n<h2>Beam me $100, Scotty<\/h2>\n<p>Actor William Shatner of &#8220;Star Trek&#8221; fame teased the preliminary launch of XMoney last month, posting screenshots of his invitation to sign up for the payment app on Instagram, along with Musk&#8217;s confirmation that Shatner&#8217;s account would be &#8220;activated shortly.&#8221;\u00a0<\/p>\n<p>Shatner was sharing information about the new app to promote a charitable cause, saying that he would share about 100 invitations to become XMoney beta testers for donations of $1,000 apiece.\u00a0<\/p>\n<h2>Where will XMoney be available?<\/h2>\n<p>XMoney will initially launch in the U.S. and is already licensed to operate in 40 U.S. states and in Washington, D.C.<\/p>\n<p>By contrast, some states have sought to block XMoney. In May of 2025, New York officials sent a letter to the state&#8217;s Department of Financial Services urging it not to authorize the app and expressing concern that XMoney will not conduct business &#8220;honestly, fairly, equitably, carefully and efficiently.&#8221;<\/p>\n<p>Musk himself &#8220;has engaged in a pattern of reckless conduct, in both business and government, that has put consumers at risk and demonstrated a lack of character and general fitness,&#8221; the New York officials said in urging the department not to license XMoney.<\/p>\n<p>Despite such opposition, along with the prospect of scaling up in the fiercely competitive digital payments space, at least some technology experts aren&#8217;t writing off XMoney&#8217;s chances.\u00a0<\/p>\n<p>Wedbush Securities analyst Scott Devitt, who focuses on the internet and e-commerce, told CBS News\u00a0that &#8220;anything Elon focuses on has a good chance of success.&#8221; Devitt also underlined Musk&#8217;s deep understanding of payment systems, commerce and generative AI.\u00a0<\/p>\n<p>Indeed, this isn&#8217;t Musk&#8217;s first foray into digital financial services. During the dot-com boom in the 1990s, he co-founded online bank X.com, which later became far better known after rechristening itself as PayPal in 1999.<\/p>\n<section class=\"content__body--footer\">\n<p class=\"content__meta--editors\">\n      Edited by<\/p>\n<p>                                  <a href=\"https:\/\/www.cbsnews.com\/team\/alain-sherter\/\" class=\"byline__author__link\" data-invalid-url-rewritten-http=\"\">Alain  Sherter<\/a>\n                      <\/p>\n<\/section>\n<p>  <!-- data-recirc-source=\"queryly\" --><\/p>\n<aside class=\"component list recirculation component--type-recirculation  \">\n        <\/aside>\n<section class=\"content__body--footer\">\n      <!-- tags --><\/p>\n<section class=\"content__tags\">\n<p class=\"content__tags__label\">In:<\/p>\n<\/section>\n<\/section><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cbsnews.com\/news\/xmoney-elon-musk-online-payments\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Elon Musk is planning to launch a new payments platform, called XMoney, in beta form to select users in April.<\/p>\n","protected":false},"author":1,"featured_media":69758,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[703],"class_list":["post-69757","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money-watch","tag-elon-musk"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is XMoney, Elon Musk&#039;s new digital payments platform? - World News<\/title>\n<meta name=\"description\" content=\"Elon Musk said his long-planned payments platform, dubbed XMoney, is set to launch for select users. 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