Elon Musk’s financial services platform, X Money, will launch an early public access beta in April. The platform will offer peer-to-peer transfers, direct deposits, and the ability for users to earn yield. Despite Musk’s long history of supporting Dogecoin (DOGE), the meme cryptocurrency appears to have no role in the initial launch, though its price rose over 8% amid the announcement.
Elon Musk announced that X Money will launch early public access next month. The payments app will enable direct deposits, yield earnings, and peer-to-peer transfers, positioning it as a rival to services like Venmo.
Actor William Shatner has helped promote the platform, having been invited to utilize the platform by Musk. Shatner is offering early beta access for a $1,000 donation to his charity supporting children.
“X Money early public access will launch next month,” Musk posted to X on Tuesday morning. Despite early user demonstrations, there remains no clear crypto functionality within the app.
Dogecoin, which Musk has frequently endorsed, is not part of the current launch. However, DOGE’s price increased more than 8% in a day, potentially due to speculation surrounding the app.
Musk recently re-posted a third-party forecast listing future features including loans and “crypto integration.” The launch follows years of development, including securing money transmitter licenses and a partnership with Visa.
The platform’s expansion includes recent financial tools like “smart cashtags” for analyzing traditional equities and digital assets on X. X Product Lead Nikita Bier clarified the platform does not act as a brokerage or execute trades for users.
