Key facts
- Cross River will provide banking infrastructure for X Money.
- The services will include peer-to-peer payments, FDIC-insured accounts, and Visa debit cards.
- X Money has been in limited beta testing since May 2025.
- X has secured money transmitter licenses in more than 40 U.S. states.
Cross River announced on Monday that it will provide the banking infrastructure for X Money, a financial services platform being integrated into X. This partnership will enable peer-to-peer payments, FDIC-insured interest-bearing accounts, and Visa debit cards for users.
The company stated that its regulated banking platform and payment rails will power the service as X continues its development into an "everything app." The infrastructure is designed to support additional financial products and services in the future.
X Money has been in limited beta testing since May 2025, with an initial rollout requiring "extreme care" in handling user savings, according to Elon Musk. A limited external beta began in March 2026, preceding a wider launch.