Elon Musk's X Money Enters Beta Testing Phase: DOGE Integration Coming Soon?

X Money, the payment and banking app from Elon Musk, has entered a limited beta testing phase before its planned launch in 2025. "Initially, this will be a beta version with very limited access," Musk said in response to a post on May 25 from Tesla Owners Silicon Valley on the social media platform X. "When it comes to people's savings, we have to be extremely careful." The cryptocurrency community is closely monitoring this development, with predictions that X Money, launched after Musk bought X in 2022, could integrate Bitcoin and even possibly Musk's favorite meme coin, Dogecoin. Musk is known as the "DogeFather" and often tweets about the largest meme coin by market capitalization. The peer-to-peer design of this platform shows that it can support cryptocurrency trading along with traditional banking features. X Money will be launched in 2025. The launch of the beta version of X Money and Musk's subsequent confirmation comes after a series of reports suggesting that the platform could launch this year based on leaked source code information in January. Account X of X Money officially indicates that the expected launch time of this platform is in 2025. X has actively sought to obtain numerous signaling licenses for the payment platform across the United States. So far, 42 such licenses have been issued, according to the National Multistate Licensing System. X Money will also operate through partnerships with Visa, allowing users to connect their debit cards to execute peer-to-peer transactions. This service will function as a digital wallet where users can deposit money into their accounts from the bank and then send and receive money similarly to how they do with solutions like Venmo and other platforms. Musk's Payment Plan Criticized by Elizabeth Warren Democratic Senator Elizabeth Warren has criticized X's payment plan, partly due to Musk's recent involvement in the government. "Musk has lost a lot of money on X," she said. "So, he has the idea of turning X into a big moneymaking platform, where he can collect people's personal financial data." X Money seems to become more attractive after the election victory of US President Donald Trump. After reclaiming the White House, Trump appointed Musk as the head of the Department of Government Efficiency ( DOGE ) But recently Musk stated that he would reduce his involvement in DOGE to spend more time on Tesla and his other projects.