New York : The social media platform X is preparing to expand its services with the launch of “X Money,” a built-in payments feature aimed at turning the app into a broader “everything app.”
According to details shared by the company, the new service will introduce a wallet section within the X app that allows users to manage payments and financial transactions directly from the platform.
In X Post Elon Musk share the exactly when X Money will be launch. “X Money early public access will launch next month.”- said Elon Musk
Users will be able to send and receive money in real time with other X users through peer-to-peer transfers. The system is expected to function similarly to popular payment apps, allowing quick and direct transactions inside the platform.
The wallet will also allow users to deposit funds from a bank account or debit card and maintain a balance within the app.
The X company said users may earn interest of up to 6% annual percentage yield on their stored balance.
Additional features include cashback rewards and a personalized debit card, which will be available in both virtual and physical formats. Users will also have access to a dashboard showing transaction activity, rewards and account details.
The company noted that the service will operate under financial licences across more than 40 states in the United States, with security measures in place to protect user funds and transactions.
Also Read | How to Earn Money Using the X App
Early public access to the feature is expected to begin next month, allowing users to link their bank accounts, fund their digital wallets and start making transactions directly within the X platform.
The move marks another step in X’s strategy to expand beyond social networking and build an integrated digital ecosystem that combines communication, payments and financial services in a single app.