X Money launched to early-invite users offering 6% APY deposits insured by Cross River Bank, 3% cashback, Visa debit card and P2P payments. SpaceX IPO funding backs xAI integration for AI-driven agentic banking, leveraging X’s 560 million monthly active users and rising demand for AI-powered financial services.
X Money has rolled out to a select group of invited users who will test the platform and provide feedback ahead of a broader release. The phased approach aims to refine user experience and ensure regulatory compliance before general availability.
The service offers a 6% annual percentage yield on deposits held and insured by Cross River Bank, 3% cashback on payments, a Visa debit card and peer-to-peer payment capabilities. These features position X Money as a full-service digital banking alternative.
Proceeds from SpaceX’s recent IPO channel into xAI, enabling integration of large language models for agentic commerce banking. This AI layer is designed to deliver personalized financial insights and automated transactions within the X Money app.
X’s platform spans over 560 million monthly active users and 245 million daily users, with 105 million in the U.S. Rising consumer interest in AI-powered finance—55% of Americans use LLMs for banking questions—underscores the market opportunity.
