- Elon Musk confirms X Money beta testing; limited access prioritizes caution for 2025 payment app launch.
- X secures 41 US money transmitter licenses; full rollout pending regulatory approvals to rival PayPal, Venmo.
Elon Musk confirmed on May 25 that X, the social media platform he acquired in 2022, has begun testing a payment and banking feature called X Money. The beta phase, initially restricted to a small group of users, prioritizes caution due to the risks associated with handling personal finances. Musk emphasized the need for “extreme care” in a public post, signaling a deliberate approach to the rollout.
This will be a very limited access beta at first. When people’s saving are involved, extreme care must be taken.
— Elon Musk (@elonmusk) May 25, 2025
X Money aims to launch fully in 2025, pending regulatory approvals. To operate legally across the U.S., X has secured 41 state-level money transmitter licenses, according to the Nationwide Multi-State Licensing System. These licenses permit the platform to process digital payments, positioning it to compete with established services like PayPal.
Musk first hinted at integrating payments into X after purchasing Twitter for $44 billion, describing the acquisition as a step toward building an “everything app” combining social media, messaging, and finance.
The project advanced in early 2025 when Musk joined a U.S. government efficiency initiative under the Trump administration, though his dual role as a federal advisor and CEO has drawn scrutiny.
Critics, including Senator Elizabeth Warren, argue that X Money could compromise user privacy. In February, Warren accused Musk of seeking financial data to offset losses at X, citing his efforts to reduce oversight from the Consumer Financial Protection Bureau. Regulatory hurdles remain a key obstacle, with lawmakers questioning conflicts of interest given Musk’s government ties.
Dogecoin (DOGE) is currently priced at $0.2274, showing a steady 1.3% increase over the past 24 hours and gaining 3.8% in the last 7 days. Over the past month, it has climbed 25.2%, indicating strong short-term momentum.
The coin’s market capitalization now exceeds $33.9 billion, with a circulating supply of over 149 billion tokens, and no maximum supply limit, maintaining its inflationary nature. The trading volume in the last 24 hours surged above $1.37 billion, signaling active interest and liquidity.
Recent developments in the Dogecoin ecosystem continue to revolve around major external influence, particularly Elon Musk’s public endorsements and the rumored integration of Dogecoin into X (formerly Twitter)‘s upcoming payment features. This speculation has sparked a wave of renewed optimism in the community.
The post Elon Musk Announces Limited Beta Testing for X Money Payment Platform appeared first on ETHNews.
