Business
March 5, 2026
X Money, one of the most-awaited features on X, has now entered a limited external beta testing stage. The new X Money pilot is currently available only to a small group of 42 invited users outside the company, and reports emerging suggest it features a user-friendly interface and offers rewards and an interest rate of 6% APY.
The rollout marks a major milestone in Musk’s efforts to turn X into an everything app. The idea is to bring everything in one place, much like China’s WeChat. Elon Musk wants to integrate payments, social media, and shopping into a single app.
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How the X Money Pilot Turns X Into a Full Banking Platform
The X Money pilot marks the first time the company is testing with people outside of X. Actor William Shatner, for instance, recently shared screengrabs of his X Money page, giving people an insight into what it looked like. Shatner distributed the 42 beta invites via an online auction, with each slot going to users who donated $1,000 to his charity supporting children’s and veterans’ organizations, a move made with Elon Musk’s blessing.
From the screenshots doing the rounds on social media, it appears that the Elon Musk payments platform features a deposit funds option, a send money option, a request funds option, a debit card, cashbacks on payments, and interest on deposits. The screenshots also suggest that all deposits are FDIC-insured up to $250,000 per individual.
The feature-rich testing phase hints at plans to transform Elon Musk payments from something simple into a full-fledged X app banking.
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Talking about X money, Elon Musk last month said,
“For X Money, we actually have X Money live in closed beta within the company, and we expect in the next month or two to go to a limited external beta and then to go worldwide to all X users. This is intended to be the place where all the money is — the central source of all monetary transactions. It’s really going to be a game-changer.”
That limited external beta has now launched, with the Shatner charity auction serving as its public debut.
For now, there has been no official confirmation on whether X Money will support cryptocurrency. But crypto enthusiasts are hopeful. Some are suggesting these changes will be integrated down the line as the platform expands.
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If Elon Musk achieves his goals for X Money, it could benefit many content creators, individuals, and businesses. With licenses in over 40 U.S. states and a partnership with Visa, Musk seems to be heading in the right direction. But for now, the platform remains in early external testing, with no clarity on wider or public rollouts.
