Musk Confirms Internal Testing of X Money! Target Launch in 2025, Democrat Warren: It’s Just a Money Grab
Elon Musk Announces X Money Online Payment Service Testing
Since Elon Musk acquired Twitter (X) in 2022, he has consistently claimed his intention to transform it into a super app, with one of its most anticipated features being online payment services. Finally, on May 26, 2025, Musk announced that the online payment service “X Money” is currently undergoing internal testing and is expected to be officially launched this year. However, X Money has also drawn scrutiny and regulatory pressure from the Democratic Party in the United States.
Key Highlights
- Musk announced that X Money has entered a small-scale testing phase, with an official launch expected in 2025.
- Musk emphasized that he will exercise extra caution when dealing with people’s deposits.
- X has obtained payment business licenses in 41 states across the U.S.
- Trump’s appointment of Musk to a government position has triggered regulatory concerns among Democrats.
- Democrat Senator Warren criticized Musk for allegedly using X Money to collect financial data and to expand his power against regulatory bodies.
- Musk aims to make X a super app, leading to speculation about the expansion of cryptocurrency services.
After acquiring Twitter (X) in 2022, Musk stated that the transaction was aimed at transforming Twitter into a super app. Subsequently, Twitter rebranded to X in 2023. To this end, CEO Linda Yaccarino revealed that X will not only serve as a social platform but will also support a wider range of content (videos, live streams) and interactive features, gradually accelerating its financial payment services.
Speculation on Cryptocurrency Services
There are many external speculations that X may also include services for trading cryptocurrencies like Bitcoin in the future.
X Money Testing and Launch Timeline
The Tesla fan account “Tesla Owners Silicon Valley” tweeted on May 25 that “X Money is about to launch.” Musk himself quickly came forward to confirm this information, stating that it is currently only available for testing by internal personnel. He also emphasized:
“This service involves people’s money; we must be extra cautious.”
The official X Money account also announced that this payment platform is expected to be officially launched in 2025.
Previous Code Leak and Financial Licenses
Back in January of this year, code suspected to be for X Money had already leaked, raising speculation that the platform might launch sooner than expected. According to data from the Nationwide Multi-State Licensing System, X has applied for and obtained 41 financial licenses across the U.S. for this service, laying out its footprint in the U.S. financial market.
Musk’s Government Appointment Sparks Regulatory Concerns
Since Trump reassumed the presidency and appointed Musk as head of the Department of Government Efficiency (DOGE), the relationship between X’s business and the government has become closer, but this has also attracted criticism from the opposition party in the U.S. It is understood that Democratic Senator Elizabeth Warren accused Musk in February of attempting to use X Money to acquire the financial data of the entire nation and criticized him for incurring losses on X, claiming he is only trying to turn his fortunes around through financial services. She even accused Musk of undermining the Consumer Financial Protection Bureau (CFPB) that she founded.
The Challenges Ahead for Musk’s Financial Ambitions
The launch of X Money, moving from a super app to a payment platform, is not just a technological innovation; it also involves regulatory, privacy, and political interests. Whether Musk can transform X into a versatile platform similar to China’s Alipay will depend on his efforts in technology, regulations, and public trust.
Risk Warning
Investing in cryptocurrencies carries a high risk, and their prices may fluctuate dramatically, potentially resulting in the loss of your entire principal. Please assess the risks carefully.
