Cross River said Monday it will provide the banking infrastructure for X Money, the financial services platform being integrated into X. The service will support peer-to-peer payments, FDIC-insured interest-bearing accounts and Visa debit cards as X continues building an “everything app” with infrastructure designed to add more financial products and services over time. According to Cointelegraph, Cross River’s regulated banking platform and payment rails will power the service, while the announcement did not mention support for cryptocurrencies or stablecoins. The company said it provides embedded financial infrastructure for payments, cards, lending and cryptocurrency services to fintech and technology companies, but no crypto or stablecoin integration was included in this update.
Elon Musk confirmed in May 2025 that X Money had entered limited beta testing, saying the initial rollout would be limited because “extreme care” was needed when handling users’ savings. The service expanded to a limited external beta in March 2026 ahead of a wider launch. Musk has been teasing X Money since at least 2022, when he described his acquisition of Twitter as “an accelerant to creating X, the everything app.” Since then, X has obtained money transmitter licenses in more than 40 US states and registered with the Financial Crimes Enforcement Network to enable peer-to-peer payments on the platform.
Cross River to Power X Money With Banking Infrastructure
2026-07-28 00:23:16
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