According to media reports, recently, Elon Musk announced on the X platform that his payment product X Money will open for public testing next month. This also marks the official rollout of the “super app” payment piece of Musk’s strategy. As it is understood, X Money is a digital wallet and payment system embedded in the X platform. It is developed together with Visa, with users’ deposits held in custody by Cross River Bank, and protected by FDIC insurance up to a limit of $250,000. The product offers an annualized deposit interest rate of 6%, and new users will receive a $25 reward and a metal Visa debit card printed with their X username. Its features include deposits, transfers, and receiving payments. According to publicly disclosed information, X Money can also be used to withdraw cash via ATMs and for everyday card spending, with a per-transaction limit of $1,000,000 for bank transfers and a withdrawal limit of $100,000. After Musk acquired X (Twitter) for $44 billion in 2022, he has continued to promote the platform as an “all-in-one app,” planning to provide many functions such as streaming, instant messaging, images, videos, and payments.