X and Visa launch X Money account to enhance digital payments
Elon Musk's X has announced a partnership with Visa to introduce the X Money Account, marking a significant step toward transforming the platform into an "everything app."
This collaboration makes Visa the first partner in this initiative, which aims to seamlessly integrate financial transactions within the X platform.
"Another milestone for the Everything App: Visa is our first partner for the X Money Account, which will debut later this year," stated CEO Linda Yaccarino, sharing the news on January 28.
The X Money Account will feature secure and instant funding to user wallets via Visa Direct, allowing users to connect their debit cards for peer-to-peer payments and providing an option for immediate bank transfers.
"Visa Direct will make it possible for U.S. X Money Account users to fund and transfer money in real-time with their debit card," Visa emphasised, expressing excitement about the partnership.
X Payments LLC, operating under various state-issued money transmitter licenses, ensures compliance with U.S. financial regulations, building user trust as new payment services are introduced.
This initiative aligns with Musk's broader vision of creating a multifunctional ecosystem similar to China's WeChat, combining social networking with financial services.
"First of many big announcements about X Money this year," Yaccarino stated.
As X continues to expand in 2025, additional features and partnerships are expected to further integrate financial services into the app.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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