X Money, the payment service that represents one of the pillars of Elon Musk’s project to transform X into an “everything app”, began its official launch in the United States today. The platform provides users with a digital wallet and a peer-to-peer payments system that closely resembles Venmo, as well as a metal Visa card that can be personalized with your username on X.
The announced features also include support for Apple Wallet and free money transfers between users of the platform. X Money also touts an annual return of up to 6 percent, but access to this rate is restricted to Premium Plus subscribers; those who have a standard Premium subscription can obtain the same “enhanced” rate only by depositing a minimum sum established by the platform.
The service was previously only available in a beta phase by invitation. From today it opens to all Premium and Premium Plus subscribers residing in the United States. The launch comes a few months after Musk himself announced the arrival of “early public access” to the service in April.
The project is not without criticism. Earlier this year, Democratic Senator Elizabeth Warren expressed concerns about the security of X Money, underlining the possible risks to consumers, national security and the stability of the financial system. However, the ambition to bring payments to