Elon Musk's X Money App Launched in the US

Expanding its financial services ecosystem, Elon Musk's X platform has officially begun rolling out the X Money app for paid subscribers in the US. This step serves as an important milestone in transforming the social network into a universal "all-in-one" application combining financial operations and everyday payments. This is reported by Techcrunch.com, reports .

According to ixbt.com, as part of the new service, users will be provided with an X Visa debit card. This card can be instantly linked to Apple Pay and make instant money transfers within the app without any commissions and restrictions. In addition, customers will be sent a physical X Visa plastic card, which allows free cash withdrawals at international ATMs and incurs no additional fees for foreign transactions.

Financial Benefits and Interest Rates

The X Money service is designed for Premium and Premium+ subscribers in the US and offers a number of financial benefits depending on the subscription plans. In particular, Premium+ users paying $40 per month or $395 per year are offered a 6% annual percentage yield (APY) interest rate. Regular Premium subscribers paying $8 per month or $84 per year will only be able to take advantage of this 6% rate if they link their accounts via direct deposit.

In addition, according to the company, users can receive up to 3% cashback on certain types of purchases. If they connect a direct deposit to the app, they will have the opportunity to access their funds a few days earlier.

Historical Roots of the Scientific-Practical Project

The release of this financial platform signifies the realization of Elon Musk's decades-long dream. As experts recall, the entrepreneur founded X.com back in 1999 as a financial services startup, which was later merged with PayPal. After acquiring Twitter in 2022, Musk changed the platform's name to X and repurchased the X.com domain.

Since the acquisition of the social network, Elon Musk has repeatedly emphasized his desire to turn it into a universal application encompassing all necessary services. The introduction of the X Money app to the US market is the practical execution of this grand strategic plan and is expected to have a serious impact on the digital financial services market in the future.