Draft:X Money
Submission declined on 13 April 2025 by Alpha3031 (talk).
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Comment: Speculation is typically not sufficient to meet NCORP, the criteria listed above. Alpha3031 (t • c) 08:58, 13 April 2025 (UTC)
 | This is a draft article. It is a work in progress open to editing by anyone. Please ensure core content policies are met before publishing it as a live Wikipedia article. Find sources: Google (books · news · scholar · free images · WP refs) · FENS · JSTOR · TWL Last edited by Alpha3031 (talk | contribs) 52 days ago. (Update)
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| Developer(s) | X Corp. |
|---|---|
| Operating system | |
| Platform | X |
| Type | Payment system |
| Website | payments |
X Money, previously called X Payments,[1] is a payment system under development by X Corp. Its expected to be released in United States in 2025, according to X CEO Linda Yaccarino.[2] According to Elon Musk the app will work without a bank account to transfer user money.[3][4] The payment system is part of Musk's intent to evolve Twitter into an "everything app."[5]
History
[edit]Elon Musk founded the online banking venture X.com in 1999. X.com aimed to be a comprehensive financial platform, offering banking, credit card, and mutual fund services all under one domain. In 2000, X.com merged with Confinity, the company behind PayPal. Following internal leadership shifts, the merged entity became known as PayPal, focusing on payment services. The X.com domain eventually redirected to PayPal's site until Musk repurchased it in 2017.[6]
In 2022, Musk acquired Twitter for $44 billion, with the intent to evolve it into an "everything app," similar to WeChat in China, which combines social, messaging, and payment services.[7]
After the acquisition of Twitter, Musk moved forward with his vision by rebranding the platform to X in July 2023. In line with this vision, X Payments LLC was established,[8] and X began developing its financial services. In December 2024, X Payments was renamed X Money.[9]
As of January 2025, X Payments LLC has secured money transmitter licenses in 41 states[10] and X Money is expected to be released in United States in 2025, according to X CEO Linda Yaccarino.[2]
See also
[edit]References
[edit]- ^ Belanger, Ashley (October 25, 2024). "X Payments delayed after Musk's X weirdly withdrew application for NY license". Ars Technica. Retrieved January 25, 2025.
- ^ a b Koch, Alexandra (December 31, 2024). "'X Money' payment system to launch in 2025: X CEO". FOXBusiness. Retrieved January 25, 2025.
- ^ Methri, Gloria (November 27, 2024). "Is Elon Musk's X Payments the next big FinTech disruptor?". IBS Intelligence. Retrieved January 25, 2025.
- ^ Desk, News (January 4, 2025). "Elon Musk plans to launch 'X Money' this year but only in a limited form". The Express Tribune.
{{cite web}}:|last=has generic name (help) - ^ "X Money to revolutionise payments and creator opportunities in 2025, says CEO Linda Yaccarino - CNBC TV18". CNBCTV18. January 8, 2025. Retrieved January 25, 2025.
- ^ Statt, Nick (July 11, 2017). "Elon Musk now owns X.com, the defunct domain of his second startup". The Verge. Retrieved January 27, 2025.
- ^ Liao, Rita (October 8, 2022). "Elon Musk's X app for 'everything' might be a non-starter in the US". TechCrunch. Retrieved January 27, 2025.
- ^ Perez, Sarah (December 5, 2023). "X is now licensed for payment processing in a dozen US states". TechCrunch. Retrieved January 27, 2025.
- ^ "SPECULATION: X Payments may be getting renamed to X Money". X (formerly Twitter). December 14, 2024. Retrieved January 27, 2025.
- ^ "Licenses". payments.x.com. Retrieved January 27, 2025.
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