said 26 Oct 2023
When I say payments, I actually mean someone's entire financial life. If it involves money. It'll be on our platform. Money or securities or whatever. So, it's not just like send $20 to my friend. I'm talking about, like, you won't need a bank account.
— Elon Musk, contemporaneous report
X all-hands call, per audio obtained by The Verge, one year after the Twitter acquisition. On timing, in the same call: "It would blow my mind if we don't have that rolled out by the end of next year." CEO Linda Yaccarino called it a "full opportunity" in 2024. X was still applying for state money-transmitter licenses at the time.
What happened: Nineteen months past the deadline, X Money reached US Premium and Premium+ subscribers on 27 July 2026 after an invite-only beta: a deposit account, peer-to-peer payments and a Visa debit card — with the accounts held at Cross River Bank, making "you won't need a bank account" a product that is itself a bank account. It is US-only, subscription-gated, unavailable in New York and Massachusetts, and the promised securities trading is not in the shipped product. The "entire financial life" platform remains undelivered.
due 31 Dec 2024
The Verge report of X all-hands call, Oct 26 2023 · archived