On April 27, Bloomberg reported that more than three years after acquiring Twitter (now renamed X), Musk announced progress on his 'everything app' goal, with the accompanying financial services tool, X Money, expected to enter public beta testing this month. The tool offers 3% cashback on purchases, a 6% cash savings interest rate (approximately 15 times the national average in the U.S.), and includes built-in features such as free P2P transfers, a Visa metal debit card, and an AI spending assistant. Currently, X Money has obtained payment licenses in 44 states, but approval is still pending in states like New York, posing regulatory challenges for its full-scale rollout.
