Elon Musk Confirms Beta Testing for X Money Ahead of 2025 Launch

Elon Musk has confirmed that X Money, his long-anticipated payments and banking platform, is now undergoing limited beta testing. The app—part of Musk’s broader vision to turn X (formerly Twitter) into an “everything app”—is expected to roll out more broadly in 2025.

Musk shared the update in a May 25 post on X, responding to a fan account that claimed the financial platform was nearing launch. “Very limited access beta at first,” Musk wrote, adding that “extreme care must be taken” when it comes to handling people’s savings.

X Money has been in the spotlight since Musk acquired Twitter in 2022 for $44 billion. At the time, he described the move as a way to accelerate the development of “X,” a super-app concept combining messaging, media, commerce, and financial tools. In 2023, Twitter officially rebranded to X, and company CEO Linda Yaccarino later confirmed plans to integrate payments, including support for various media formats and interactive features.

Musk’s vision has taken concrete steps toward reality. As of May 2025, X has secured 41 money transmitter licenses across the United States, according to the Nationwide Multi-State Licensing System. These licenses are essential for any app offering banking or payment services on a national scale.

Rumors of a financial platform tied to X gained momentum earlier this year after alleged code leaks hinted at a possible mid-2024 launch. However, with Musk now confirming that only a small group will access the platform during its early testing phase, a full-scale launch will likely arrive in 2025.

X Money’s rollout comes amid Musk’s growing political influence. Following the inauguration of U.S. President Donald Trump in January, Musk was appointed to lead the federal Department of Government Efficiency’s Workforce Optimization Initiative (DOGE). While the role gives him a formal hand in shaping federal efficiency efforts, it has also drawn political backlash.

U.S. Senator Elizabeth Warren has been particularly vocal. In February, she criticized Musk’s ambitions to transform X into a financial hub, raising concerns over user privacy and financial oversight. “Musk has lost money hand over fist on X,” Warren said, warning that X Money could become a way for Musk to amass users' sensitive financial data while undermining agencies like the Consumer Financial Protection Bureau.

Despite the political headwinds, Musk remains focused on X’s transformation into a fully integrated digital ecosystem. Whether X Money becomes a key driver of that vision—or a controversial experiment—remains to be seen.