finsmart-news_admin 
Elon Musk’s long-anticipated financial push through X—formerly known as Twitter—is picking up pace. On May 25, the billionaire confirmed in a post on X that “X Money,” the platform’s built-in payment and banking service, has entered limited beta testing.
The news first surfaced via Tesla Owners Silicon Valley, a popular Musk-focused fan account, which claimed the rollout was imminent. Musk then chimed in to confirm the update directly, noting that the beta is starting with “very limited access.”
“When people’s savings are involved, extreme care must be taken,” Musk wrote.
The beta release follows growing speculation over the app’s financial ambitions. X Money’s official account reiterated the target of a 2025 launch, though code leaks earlier this year had already hinted at a potential debut sooner.
According to data from the Nationwide Multi-State Licensing System, the company has secured 41 money transmitter licenses across the U.S. to date, an essential step for operating a digital payments platform.
Musk first floated the idea of transforming X into an all-in-one platform back in October 2022, shortly after his $44 billion takeover of Twitter. He called the acquisition “an accelerant to creating X, the everything app.” By mid-2023, Twitter had rebranded to X, and CEO Linda Yaccarino outlined plans for a super-app with social, media, and financial features.
Expectations around cryptocurrency support have also followed the project from the outset, with Bitcoin among the most mentioned candidates for future integration.
More recently, political attention has added new layers to the story. In January, U.S. President Donald Trump appointed Musk to lead the “Department of Government Efficiency’s Workforce Optimization Initiative”—a satirical nod to the agency’s name, DOGE, which mirrors the meme coin Musk has often championed.
But not everyone’s cheering. Senator Elizabeth Warren criticized the effort, saying Musk is trying to turn X into a financial data goldmine. “Musk has lost money hand over fist on X. So he has this idea of X becoming a big money platform where he would get everyone’s personal financial data,” she said in February, accusing him of attempting to dismantle her flagship agency, the Consumer Financial Protection Bureau.
