Elon Musk’s push toward an “everything app” takes another step as X begins testing its payments service, offering invites through a charity auction.
X begins external testing of its payments platform
X has started inviting select users to test X Money, its upcoming payments service, marking the first limited rollout beyond internal testing.
The invitations weren’t distributed through a typical beta program. Instead, Elon Musk partnered with actor William Shatner to distribute access via a charity auction.
Participants could receive an invite by donating $1,000 to Shatner’s charity, which supports children’s and veterans’ organizations.
The unusual launch strategy quickly gained attention across the platform.
- 42 beta invites were auctioned
- Donations supported charitable causes
- Musk promoted the initiative directly on X
In a post reshared by Musk, he simply wrote: “X Money.”
A sci-fi nod in the first X Money transaction
Shatner revealed that Musk had already used the X Money app to send him a payment.
The amount? $42.
The number is a well-known reference to “The Hitchhiker’s Guide to the Galaxy,” where 42 is famously described as the answer to the meaning of life.
Shatner said the auction was conducted with Musk’s approval after receiving that payment.
In other words, the beta launch blended fintech testing, celebrity promotion, and a dash of sci-fi culture.
What early users will get
Those who win the auction invites will receive access to the X Money interface directly within the X app.
Once activated, a new X Money link appears below the Premium subscription section.
Early users will also receive a metal debit card branded with their X username.
The card is issued through Visa, which is partnering with X to support the platform’s person-to-person payments infrastructure.
Inside the X Money interface
Screenshots shared by Shatner revealed the structure of the new payments product.
The interface includes three primary tabs:
- Account
- Rewards
- Activity
Users can perform several basic financial actions:
- Deposit funds
- Send payments
- Request money
Another feature shown in the preview is direct deposit, which could allow users to earn interest.
One screen indicated an option of up to 6.00% APY.
User deposits are reportedly held by Cross River Bank, which is FDIC-insured up to $250,000 per individual.
However, X Money itself is not a bank.
The regulatory groundwork behind X Money
To launch a payments platform in the U.S., companies must obtain money transmitter licenses in each state.
X has been quietly building that infrastructure.
According to company disclosures, X now holds licenses in more than 40 U.S. states.
During a February internal meeting, Musk told employees that external beta testing would begin soon before a broader rollout.
The current beta appears to be that first step.
Part of Musk’s “everything app” vision
X Money is central to Musk’s long-term plan to transform X into an “everything app.”
The vision includes combining several digital services inside one platform:
- Messaging
- Payments
- Creator monetization
- Subscriptions
- Video
- Commerce
X is already experimenting with X Chat, a messaging system that may eventually launch as a standalone app.
If X Money follows the same path, it could evolve into a dedicated payments app competing with services like:
- Venmo
- PayPal
- Cash App
A return to Musk’s fintech roots
For Musk, the move into payments is also something of a full-circle moment.
In 1999, he founded an online financial services startup called X.com, which later merged into the company that became PayPal.
After acquiring Twitter in October 2022, Musk renamed the platform X less than a year later—a nod to that early venture.
Now, with X Money, the original vision behind the name may finally be coming into focus.
TL;DR:
X has begun early beta testing of X Money, its new payments platform, with invites distributed via a charity auction promoted by William Shatner. The service includes peer-to-peer payments, debit cards, and potential interest-earning accounts, forming a key part of Elon Musk’s plan to turn X into an everything app.
AI summary
- X launched a limited beta of its X Money payments service.
- William Shatner helped distribute 42 invites via charity auction.
- Users receive a metal debit card issued through Visa.
- Deposits held by Cross River Bank (FDIC insured).
- Payments are part of Musk’s “everything app” strategy.
