Elon Musk Announces X Money Launch in April, DOGE Gains 4.2%

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On March 10, Elon Musk, the Executive Chairman at X (formerly Twitter), announced that the platform will begin early public access for its remittance system, X Money, in April.

X Money will be the platform’s native custodial wallet, allowing users to link to their bank accounts for peer-to-peer transactions and bill payments. Other benefits will include 6% yield on balances and cashbacks through physical or virtual debit cards.

The system will operate in partnership with the payments technology provider Visa and use licenses from over 40 US states. Initial operations will utilize fiat, with plans to incorporate cryptocurrencies later in the year.