2025 marks a major turning point in Elon Musk’s plan to turn X (formerly Twitter) into a platform that integrates social, payments, and cryptocurrency. With over a billion users, X Money will be a new payment system that combines financial technology with social networking.
CEO Linda Yaccarino announced the plan on New Year's Eve 2024, along with new features like X TV and AI chatbot Grok. "In 2025, X will connect you in ways never before possible," she said.
X is getting closer to the goal of 'everything app' that Musk has dreamed of. Inspired by China's WeChat, X will integrate messaging, shopping, and payments into a single platform. Despite having over a billion registered users, with only 40% being active users, X is uniquely positioned to change both the fintech and social media industries.
X Money — Is Cryptocurrency About to Arrive?
The big question is whether X Money will integrate cryptocurrency. Musk, who is famously supportive of Dogecoin, could turn X Money into a daily cryptocurrency trading platform.
In 2021, Musk paused Bitcoin payments for Tesla due to environmental concerns, requiring at least 50% renewable energy for mining. Currently, this figure has reached 56.7%, opening up the possibility for Musk to incorporate Bitcoin into the X ecosystem.
Additionally, stablecoins like USDC are also being considered. Coinbase CEO, Brian Armstrong, believes USDC could be the ideal choice for X Money due to its stability. Whether it’s Bitcoin, Dogecoin, or USDC, integrating cryptocurrency would mark a major breakthrough for X and global social media.
X Payments Has Been Licensed From 33 U.S. States — Still Facing Barriers
The road ahead for X Money remains challenging. X Payments LLC has been licensed for money transfer in 33 states of the U.S., but has yet to receive approval from New York — a major financial hub. If this barrier is not overcome, X Money may face significant operational restrictions.
In addition to legal issues, attracting users is also a hurdle. While Musk's fans may support it, X Money will have to compete fiercely with major payment platforms like PayPal and Venmo, while also facing resistance from traditional financial institutions.
Nevertheless, the potential is very large. Alex Finn, an NFT expert and financial commentator, believes X Money could open breakthrough opportunities for content creators and global users.
The Trump-Musk relationship could promote cryptocurrency integration.
The timing of X Money's launch could not be more favorable, especially as the upcoming Donald Trump administration shows strong support for cryptocurrency and innovation. The close relationship between Trump and Musk — referenced through the New Year's Eve party at Mar-a-Lago — could facilitate breakthrough regulatory changes.
X Money is expected to focus on peer-to-peer payments, similar to Venmo, but stands out with the ability to integrate cryptocurrency for everyday transactions. This feature also opens up opportunities for users to tip for posts, live streams, and digital content, enhancing monetization from the platform and supporting creators.
Yaccarino's announcement positions X Money as part of a comprehensive digital ecosystem, combining with X TV and Grok to create a seamless experience for entertainment, communication, and finance.
