Elon Musk’s X platform is accelerating its pivot from social media to a full-fledged fintech ecosystem. In a recent interview, X CEO Linda Yaccarino confirmed that users will soon be able to manage payments, savings, and investments entirely within the app — marking a major step toward Musk’s long-held goal of creating an “everything app.”
The upcoming features will allow X’s 600 million users to conduct peer-to-peer payments, manage investment portfolios, and potentially access X-branded debit or credit cards — all from within the platform. The fintech initiative is anchored by the new X Money app, which is currently undergoing beta testing.
Musk, ever cautious with high-stakes tech rollouts, warned that the team is handling “people’s savings” and must proceed with “extreme care.” X has already secured regulatory licenses in over half of U.S. states, putting it on track for a national rollout by late 2025.
If successful, the integration would place X in direct competition with fintech giants like PayPal, Robinhood, and Cash App — and could upend traditional banks’ role in everyday finance.
X Stays Quiet on Crypto as Industry Advances
Despite Musk’s outspoken history with cryptocurrencies — including past flirtations with Dogecoin payments at Tesla — neither Musk nor Yaccarino has confirmed if crypto will be part of the X Money rollout.
In March 2024, Musk hinted that Dogecoin could eventually be used to buy Teslas, sparking speculation of deeper integration. However, no follow-up has emerged, and the current X roadmap appears focused entirely on fiat rails.
The crypto community remains hopeful, but for now, Musk’s “everything app” is staying silent on digital assets — even as crypto adoption accelerates elsewhere.
Legacy Institutions Push Deeper into Blockchain Payments
While X treads carefully, traditional financial players are stepping boldly into the digital asset space. Visa recently expanded its stablecoin payments program across Africa, partnering with fintech firm Yellow Card — which has processed more than $6 billion in crypto transactions to date.
Meanwhile, JPMorgan Chase filed a trademark for its JPMD deposit token and has launched a pilot using the token on Coinbase’s Base layer-2 network. The move underscores Wall Street’s growing comfort with merging blockchain infrastructure and fiat payment systems.
Though X has not yet joined the crypto wave, its broader ambitions leave the door open for future integration. Yaccarino described the upcoming platform as both a “commerce ecosystem and a financial ecosystem,” suggesting that crypto may still find a place in the long-term vision.
Quick Facts
- X Money app will support payments, savings, and investments.
- Rollout expected in late 2025 following state-level approvals.
- No crypto support confirmed yet, despite Musk’s Dogecoin ties.
- Visa and JPMorgan expand digital asset efforts across markets.
