Cross River said Monday it will provide the banking infrastructure for X Money, the financial services platform being integrated into X, enabling peer-to-peer payments, FDIC-insured interest-bearing accounts and Visa debit cards.<\/p>\n
The company said its banking platform and payment rails will power the service as X continues its push to become an \u201ceverything app,\u201d with infrastructure designed to support additional financial products and services over time.<\/p>\n
Cross River provides embedded financial infrastructure for payments, cards, lending and cryptocurrency services to fintech and technology companies through its regulated banking platform and payment rails. The announcement did not mention support for cryptocurrencies or stablecoins.<\/p>\n
Elon Musk confirmed in May 2025 that X Money had entered limited beta testing<\/a>, saying the initial rollout would be limited because \u201cextreme care\u201d was needed when handling users\u2019 savings. The service expanded to a limited external beta in March 2026 ahead of a wider launch.<\/p>\n Musk has been teasing X Money since at least 2022, when he described his acquisition of Twitter as \u201can accelerant to creating X, the everything app.\u201d Since then, X has obtained money transmitter licenses in more than 40 US states<\/a> and registered with the Financial Crimes Enforcement Network to enable peer-to-peer payments on the platform.<\/p>\n Magazine: <\/strong><\/em>Peter Brandt predicts the exact day Bitcoin\u2019s bear market will be over<\/strong><\/em><\/a><\/p>\n