X Money Test Reveals 6% Deposit Yield and Debit Card Rewards
X Money is a financial service from X, formerly Twitter, that combines payments, savings and spending features. Cross River Bank holds the funds, and eligible deposits are covered by FDIC insurance. The initiative is a key step in Elon Musk's effort to turn X into a “super app” spanning social media, money transfers and financial services.
X Money recently launched a limited beta, with its interface showing a deposit yield of up to 6.00% APY as well as support for direct deposit and P2P transfers. A Visa metal debit card is planned to offer unlimited 3% cash back. William Shatner has demonstrated the test service, invitations have drawn bids of as much as $1,000, and a public beta is reportedly set to begin in April.
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The history behind this eventMusk’s X Money Launches in US With High-Yield Deposits and Debit Card
Elon Musk aims to transform social platform X into a “super app” spanning communications, content and payments, with X Money at the center of its financial services. Working with Visa, Cross River Bank and other institutions, the service integrates a wallet, spending and money transfers into X, taking the platform directly into competition in the US digital finance market.
X Money began rolling out to Premium+ users in the United States on June 25, 2026, offering up to 6% APY on US dollar balances. A cash-sweep program spanning multiple banks provides up to $10 million in FDIC insurance coverage. The service also offers a physical metal Visa debit card with unlimited 3% cash back, as well as fee-free peer-to-peer transfers.
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