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Musk Aims to Transform X into a Super App with Banking and Payment Features Expected Soon
On April 27, more than three years after acquiring Twitter (now named X), Elon Musk stated that he is moving towards his long-term goal of turning the app into a ‘universal app,’ which will include a new financial service tool he previously promised to launch to the public this month. Based on the timeline Musk provided last month, the banking and payment platform X Money, integrated within the social network X, is expected to be publicly available soon. Early users of the service have praised its competitive offerings, including 3% cash back on eligible purchases and a 6% interest rate on cash savings—approximately 15 times the national average. Reports from early users suggest that Musk’s new product is also expected to offer free peer-to-peer transfers, a metal Visa debit card featuring the user’s X signature, and an AI assistant service developed by Musk’s startup xAI to track spending and organize past transaction records. (Sina Finance)