X Money, the upcoming payment system that forms part of Elon Musk's “All Apps” plan, will be rolled out in a “limited beta” within the next two months before being rolled out to X users around the world.
Musk announced the new schedule Wednesday during his AI company's “All Hands” presentation, in which he said X Money is already running “internally in closed beta.”
“This is meant to be the place where all your money resides. It's the central place for all financial transactions,” he said, calling it a “game changer.”
Elon Musk says X Money is coming soon. sauce: xAI
Part of the “All Apps” payment for X
This move is framed as a key upcoming feature to make X more essential, and ties in with its “every app” vision, making payments a core driver of day-to-day engagement.
Musk noted that the platform has 1 billion installed users, but said it averages about 600 million monthly users.
Rumored to launch last year, X Money will be directly integrated into the X Platform, which aims to bring social networking, messaging, content and financial services into a single place, similar to China's WeChat.
“As we give people a reason to use the X app, whether it's for communication, whether it's for Grok, whether it's for X Money (…), we want it to be an app where people can live with the X app if they want to,” Musk said.
Elon Musk has been promoting payments with X since shortly after acquiring Twitter in 2022. This idea goes back to his early career, when he co-founded the online bank X.com in 1999. X.com merged with Confinity to become PayPal, which was later acquired by eBay.
Cryptocurrency integration remains a mystery. Musk has previously expressed his enthusiasm for Dogecoin (DOGE), but since the company is partnering with Visa, its initial focus is likely to be fiat. According to the Blockchain Council, cryptocurrencies will also be supported in the future.
Related: Musk's xAI seeks cryptocurrency experts to train AI in market analysis
xAI Expands Macrohard Data Center
Musk also highlighted the company's AI growth, saying xAI “can deploy more AI computing faster than anyone else.”
The tech billionaire showcased his company's “Macroharder” AI data center in Memphis, Tennessee. This is an expansion of the existing factory, adding an additional 220,000 graphics processing units.
“This all goes into training the (AI) model that you go through, and doing extensive training compute is absolutely fundamental to get the best model,” he said.
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