CEO Linda Yaccarino dropped the bombshell announcement on New Year’s Eve 2024, laying out plans for X Money alongside other innovations like X TV and Grok, an AI chatbot. Her message to users painted a vision of a fully integrated app, “In 2024, X changed the world. Now, YOU are the media! 2025 X will connect you in ways never thought possible. X TV, X Money, Grok, and more. Buckle up. Happy New Year!”

Source: X

X has been inching closer to the “everything app” dream Musk has been chasing for years. The idea is to emulate China’s WeChat, a platform that allows users to message, shop, and transfer money without ever leaving the app. The stakes are enormous, and with over a billion registered users—though only 40% are active—X is uniquely positioned to disrupt both social media and fintech.

X Money — Crypto on the Horizon?

The big question on everyone’s mind is whether X Money will include cryptocurrency. Musk’s Tesla is using cryptocurrency. In October, the company transferred $765 million to Bitcons to an unknown address. Known for his love of Dogecoin, Musk might use X Money as the vehicle to finally integrate crypto into everyday transactions.

In 2021, Musk halted Bitcoin payments for Tesla, citing environmental concerns over energy use. At the time, he stated that Bitcoin mining would need at least 50% renewable energy to reconsider. Fast forward to now, miners have hit 56.7%, with green energy hotspots like Quebec, Iceland, and Texas leading the way. That shift could be the green light Musk needs to bring Bitcoin into the X ecosystem.

Stablecoins like USD Coin (USDC) are also in the conversation. Brian Armstrong, CEO of Coinbase, believes USDC could be a perfect match for X Money, offering the stability necessary for day-to-day transactions. Whether it’s Bitcoin, Dogecoin, or a stablecoin, crypto integration would mark a significant milestone for social platforms globally.

X Payments Got License from 33 U.S. States — Hurdles Remains

Despite the buzz, the road ahead isn’t without challenges. X Payments LLC has secured money transmitter licenses in 33 U.S. states, a critical step in launching X Money. However, New York—a financial hub—remains a holdout. Without regulatory approval there, X Money could face significant operational limitations.

Regulatory hurdles are just the tip of the iceberg. User adoption is another question. While Musk’s loyal fanbase is likely to embrace the new system, competing with established payment giants like PayPal and Venmo won’t be easy. In addition to that, there is potential resistance from traditional financial institutions, and it’s clear X Money has a steep hill to climb.

Even so, the potential rewards are enormous. Alex Finn, a prominent NFT collector and financial commentator, believes X Money could unlock unprecedented opportunities for creators.

“X Payments is coming in a BIG way. It will unlock the creator economy like nothing we’ve ever seen before on social media. X millionaires will be crowned. Be the 1% that starts preparing now,” he wrote in an enthusiastic post.

Trump-Musk Relations Could Push Crypto Inclusion

The timing couldn’t be better for X Money’s debut. The incoming U.S. administration, led by Donald Trump, has shown a strong affinity for cryptocurrency and innovation. Trump himself has grown close to Musk, with the two reportedly spending New Year’s Eve together at Mar-a-Lago. That political alignment could grease the wheels for regulatory breakthroughs.

Peer-to-peer payments will likely be a core feature of X Money, mirroring platforms like Venmo but with a unique twist: the potential to weave cryptocurrency into everyday transactions. The integration of payments with social media could also enable tipping for posts, live streams, and other content, further monetizing the platform and empowering creators.

Yaccarino’s announcement framed X Money as part of a broader vision to create a seamless digital experience. Combined with X TV and Grok, the app could become a one-stop shop for entertainment, communication, and financial transactions.