Elon Musk Says X Money Will Formally Launch in April

Elon Musk has long sought to turn X, formerly Twitter, into an “everything app” spanning communications, commerce and finance. X Money is central to that push, adding a deposit account-like wallet and peer-to-peer transfers to a social network already used for messaging and creator payments. The product relies on banking infrastructure from Cross River Bank and Visa’s payment network, putting X into competition with established US services including PayPal’s Venmo, Zelle and Block’s Cash App.

X said on July 27, 2026 that X Money would begin rolling out to US Premium and Premium+ subscribers, expanding beyond an earlier invite-only test. Users can make free instant transfers and receive a virtual card compatible with Apple Wallet, as well as a personalized metal Visa debit card. Premium+ customers can earn as much as 6% APY; Premium users can reach the same rate after at least $1,000 in qualifying direct deposits. Eligible card purchases earn 3% cash back.

XChat is a key part of Elon Musk’s strategy to turn X into a “super app” that combines instant messaging, content sharing and financial payments within a single ecosystem. Launching a standalone messaging app means X will no longer rely solely on the platform’s built-in direct messages and will put it in direct competition with WhatsApp, Telegram and LINE, which is widely used in Taiwan.

Musk most recently announced that the iOS version of XChat will launch on Apple’s App Store on April 17, with end-to-end encryption and user privacy as its main selling points. Reports have also highlighted five major features, indicating that the product will seek to attract users with a full-fledged messaging experience. No timetable has yet been announced for an Android version, pricing plans or the launch of financial payment features.