Elon Musk stated during the xAI presentation on February 11 that his digital payment system for the social media platform X, **X Money**, is currently operating in an internal private beta, and after expanding to a limited external beta within 1-2 months, it could be launched to over 600 million active users worldwide.
What happened: Approaching public beta for X Money
Musk revealed plans for the reorganization of AI ventures along with this schedule at xAI's 'All Hands' event.
“We are currently running X money in a private beta internally and plan to transition to an unlimited external beta in the next month or two, after which we will offer services to all X users worldwide,” Musk said.
X money has already obtained remittance licenses in more than 40 states across the United States. Additionally, it has partnered with **Visa** to support payment infrastructure.
Musk described this service as “the central hub for all financial transactions” and added, “It will truly be a game changer.” This payment feature is part of a larger strategy to transform X into a so-called ‘super app’ modeled after the Asian all-in-one platform **WeChat**, which combines social networking, messaging, commerce, and financial services.
Currently, X claims over 1 billion installations worldwide. Musk stated, “If you want, you can live your life with just the X app.”
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Why it matters: Growing expectations for cryptocurrency integration
Following this announcement, expectations and speculation are growing about whether X money could integrate cryptocurrency payments in the future. However, such functionality has not yet been officially confirmed. Investors are particularly focusing on the two tokens and creating their own narratives associated with X money.
Dogecoin (DOGE) remains closely tied to Musk's personal brand, and past remarks by Musk indicating that this meme coin could be suitable for small payments have fueled expectations. Meanwhile, XRP (XRP) is gaining attention due to its financial partner **Cross River Bank**, which has been using the Ripple protocol for cross-border remittances since 2014.
However, neither DOGE nor XRP showed significant price movements right after this announcement. The actual impact of X money on the cryptocurrency market and the broader financial system depends on how the platform is implemented when it officially launches.
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