X Money Enters Beta Testing on X With William Shatner Among First Testers

X has begun limited beta testing of X Money, a new payments platform designed to bring financial services directly into the social network. The feature is part of Elon Musk’s long-running plan to transform X into an “everything app” that combines communication, content, and payments in one platform.

X has officially begun the first limited beta rollout of X Money, a payments platform built directly into the social media service.

The beta program is currently extremely small, but it offers an early look at what Elon Musk hopes will eventually become a fully integrated financial system inside the app. The platform is expected to support peer-to-peer payments, financial rewards, and potentially banking-style services without requiring users to leave X.

First Limited Beta Invites

One of the first publicly known testers is William Shatner, the actor best known for portraying Captain Kirk in the original Star Trek series.

Shatner shared screenshots and early details about the beta, giving the public its first glimpse of how the platform may function.

According to early testing information, users may be able to earn cashback rewards on purchases made using an X Money payment card. The service may also offer an annual percentage yield (APY) of around 6% on deposits, a feature similar to interest-bearing accounts offered by some modern fintech platforms.

While the feature set is still evolving during beta testing, these early details suggest that Musk is aiming to build something more ambitious than a simple digital wallet.

How Deposits Are Handled

Funds stored through X Money are reportedly held in partnership with Cross River Bank, a financial institution that is a member of the Federal Deposit Insurance Corporation (FDIC).

Because of this arrangement, deposits are expected to be insured for up to $250,000 per account holder, providing protections similar to those offered by traditional banking services.

That level of protection could be important if X hopes to convince users to store funds within a social media platform.

Beta Invites Turn Into a Fundraiser

Shatner also used his early access to raise money for charity.

After receiving a small payment from Musk through the beta system, he auctioned off exclusive X Money beta invitations with permission from the company.

The first round included 42 invites priced at $1,000 each, with proceeds going to charitable causes. Winners received access to the beta along with a $25 welcome gift card from X and a symbolic $1 payment originally sent by Musk during testing.

Following the success of the first auction, a second round offered 166 additional invitations, expanding the pool of early testers.

To qualify for the beta program, users must currently be U.S. residents over 18 years old with an active X account in good standing.

Musk’s Vision for an “Everything App”

X Money is a central part of Musk’s long-term strategy for the platform.

Since acquiring Twitter and rebranding it as X, Musk has repeatedly described plans to transform the service into a comprehensive digital ecosystem similar to China’s WeChat.

In that vision, X could eventually combine several services, including:

• Payments and financial tools
• Private messaging
• Creator monetization
• AI tools powered by Grok
• Identity verification
• Shopping and commerce

The goal is to allow users to manage nearly every online activity from a single platform.

A Return to Musk’s Payments Roots

The launch of X Money also reflects Musk’s early career in financial technology.

In the late 1990s, Musk founded X.com, an online banking startup that later merged into the company that became PayPal.

More than two decades later, Musk appears to be revisiting that idea by integrating financial services directly into a massive social media platform used by millions of people.

In preparation for this rollout, X has spent the past few years quietly securing money transmitter licenses across more than 40 U.S. states and registering with the Financial Crimes Enforcement Network (FinCEN). These steps allow the platform to legally support peer-to-peer payments and financial transfers.

Crypto Remains Uncertain

Despite Musk’s well-known interest in cryptocurrency and his public support for Dogecoin, there is currently no confirmation that cryptocurrencies will be supported by X Money at launch.

However, many observers expect some form of crypto integration could arrive later given Musk’s long history with digital assets.

A Long-Awaited Launch

Musk previously suggested that X’s payment features could arrive as early as 2025, but the beta rollout is only now beginning in 2026.

While the timeline is later than originally expected, the early features suggest the company is aiming to build a far more ambitious platform than a simple payment system.

If the project succeeds, X Money could transform X from a social network into a broader digital hub for communication, content, and financial activity.

For now, the beta program remains small and tightly controlled. But as access expands later this year, the tech industry will be watching closely to see whether X Money can deliver on Musk’s long-promised vision for the future of digital payments.