RJ Hamster
Elon Just Told 600 Million People They Won’t Need…
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Elon Just Told 600 Million People They Won’t Need a Bank Anymore
The question isn’t whether crypto comes to X Money. It’s when, and in what form…
FEB 13READ IN APP
For years, the ‘everything app’ was little more than an Elon Musk catchphrase.
A WeChat-for-the-West daydream that critics loved to mock. And honestly, I couldn’t blame them. Since the Twitter rebrand in 2023, X has looked a lot like… Twitter with a different logo.
That changed this week.
During an xAI ‘All Hands’ presentation on 11 February, Musk confirmed that X Money, the platform’s built-in payments system, has completed internal beta testing and will roll out to a limited external beta within one to two months. Global rollout to all X users follows after that[1].
If you want to see the whole ‘All Hands’ meeting, xAI kindly posted it online. A fun way to spend 45 minutes!
Speaking about XMoney, Elon said, ‘This is really intended to be the place where all the money is, the central source of monetary transactions. It’s going to be a game changer[2].’
Now, Musk says a lot of things. But this time, the infrastructure is already there. X holds money transmitter licences in over 40 U.S. states. There’s a Visa partnership already locked in. Peer-to-peer payments, debit card integration, instant wallet funding, it’s all built, there, ready to go and being used internally.
And once he flips the switch…
Everything changes.
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Crypto on the Moon?
X has roughly 600 million monthly active users and 1 billion installs. If even a fraction of that user base starts transacting through X Money, it becomes one of the largest payment networks on the planet almost overnight.
For now, the initial rollout is fiat-currency-focused. But the crypto angle is where things get interesting.
Musk’s personal affinity for Dogecoin is well documented. Tesla still holds over 11,000 Bitcoin. xAI is actively hiring crypto finance experts to train AI models on digital asset market analysis.
It might not start with crypto, but I’m very confident, that crypto is a big part of this.
And if Elon starts building space stations on the moon… it’s only a matter of time for crypto bros to stop shouting ‘to the moon’ and start shouting ‘we’re on the moon!’
Jokes aside…
The question isn’t whether crypto comes to X Money. It’s when, and in what form. Will it be Dogecoin as a tipping and micropayment layer? A stablecoin for cross-border transfers? Something entirely new?
PayPal 2.0… Just Better
Again, what we’re seeing in play here from the Robinhood Chain I wrote about yesterday to Xmoney rolling out through X.com is the convergence I’ve been talking about for years.
TradFi isn’t fighting crypto anymore. It’s absorbing it. And the platforms that crypto built, the 24/7 rails, the instant settlement, the borderless access, those are now the blueprint for every major financial player on the planet.
Musk’s ambition with X Money is essentially PayPal 2.0, but better.
Built on modern technologies, embedded inside a social network with more reach than most countries have citizens.
And if crypto gets woven in, you’ve suddenly got a platform where 600 million people can send, spend, and store digital assets without ever needing to understand what a blockchain is.
That’s the adoption event we’ve been waiting for.
The ‘everything app’ was easy to laugh at when it was just talk. It’s a lot harder to dismiss when the beta is live and the licenses are in place. March or April is the target.
Keep your eyes on it. It might just change everything.
Trust in crypto,
Adam Atlantic
Source:
[1] https://coincentral.com/x-money-beta-launch-what-we-know-about-elon-musks-payment-system/
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