X Money ‘External Beta’ Will Go Live In 1-2 Months, Musk Says

Authored by Martin Young via CoinTelegraph.com,

X Money, an upcoming payments system that forms part of Elon Musk’s “everything app” plans, is scheduled to come out as a “limited beta” in the next two months before launching to X users worldwide. 

Musk gave the new timeline at his AI company’s “All Hands” presentation on Wednesday, during which he said that X Money was already live “in closed beta within the company.” 

“This is intended to be the place where all money is. The central source of all monetary transactions,” he said, calling it a “game changer.”

Elon Musk says X Money is coming soon. Source: xAI

Payments part of X’s “everything app”

The move is framed as a key upcoming feature to make X more essential, tied with its “everything app” vision, with payments a core driver of daily engagement. 

Musk noted that the platform has 1 billion installed users but said its average monthly users were around 600 million.

X Money, rumored to be launched last year, is expected to integrate directly into the X platform, which aims to become a single place for social networking, messaging, content, and financial services, similar to WeChat in China.

“As we give people more reasons to use the X app, whether it’s for communications, or for Grok, or for X Money [...] we want it to be such that if you wanted to, you could live your life on the X app,” said Musk.

Elon Musk has been pushing for payments on X since shortly after acquiring Twitter in 2022. The idea ties back to his early career in 1999, when he co-founded X.com, an online bank that merged with Confinity to become PayPal, which was later acquired by eBay.

Crypto integration remains a mystery. Musk has previously shared enthusiasm for Dogecoin, but the initial focus is likely to be fiat since the company has partnered with Visa. According to the Blockchain Council, it will support crypto in the future. 

xAI expands Macrohard data center

Musk also highlighted the company’s AI growth, stating that xAI can “deploy more AI compute faster than anyone else.”

The tech billionaire showcased the firm’s “Macroharder” AI data center in Memphis, Tennessee — an expansion of the existing plant that adds 220,000 more graphics processing units.

“All this will be training the [AI] models that you experience. It’s absolutely fundamental to have large-scale training compute in order to get the best models,” he said.