X unveiled a partnership with Visa to enhance the financial capabilities of its upcoming X Money service. This marks the first step in transforming the platform into an Everything App.
Linda Yaccarino, CEO of X, announced the collaboration with Visa and confirmed that X Money will launch by the end of 2025. Initially, X Money will provide a digital wallet and P2P payment options.
As part of the partnership, X Money accounts will integrate with the Visa Direct network, enabling users to:
- fund X Wallet using bank cards;
- link X Wallet to a debit card for P2P transactions;
- instantly withdraw funds to a bank account.
Visa representatives confirmed their cooperation with X.
Elon Musk previously stated his vision for X to introduce financial features by the end of 2024, aiming to replace traditional bank accounts. Reports from 2023 suggested that X Money was originally designed with potential cryptocurrency integration in mind.
