Elon Musk is positioning his social media platform, X, to launch X Money in early 2025, aiming to create a comprehensive financial ecosystem. Partnering with Visa, X Money will enable secure and instant transfers to user wallets, facilitating peer-to-peer payments akin to Venmo. This initiative is part of Musk's broader ambition to transform X into an 'everything app,' akin to China’s WeChat, allowing users to manage their entire financial transactions within the platform. More announcements regarding future financial partnerships are anticipated this year.
X Money would provide secure and instant funding of users' X Wallets through Visa Direct. It connects to users' debit cards for peer-to-peer payments.
This move signifies the first concrete action by X to establish a financial ecosystem on the social media platform, aligning with Musk's vision for an 'everything app.'
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