Elon Musk’s X Moves Toward Becoming a One-Stop App for Social Media, Payments, and Investing

Elon Musk’s company X, which used to be called Twitter, is changing from just a social media platform into something much bigger. Musk bought Twitter for $44 billion in April 2022 and renamed it X.

Now, X plans to let users invest and trade money directly through the app. This means people could soon use X not just to post messages, but also to manage their money and make payments.

X has teamed up with Visa to create the “X Money Account.” This new feature will allow users to move money between their bank accounts and X, and also send money to other people.

The service will work like popular payment apps such as Venmo or Zelle. X expects to launch this feature in the United States in 2025, with more partners joining later.

The company is also thinking about offering its own credit or debit card. With this card, users could pay for things, invest, and shop, all within the X app. CEO Linda Yaccarino has said that these features could arrive as soon as this year.

Musk wants X to become an “everything app,” similar to China’s WeChat, which combines chatting, shopping, and payments in one place. X already lets users tip others with Bitcoin and shows live prices for cryptocurrencies, hinting that digital money will be part of its future.

X’s Push Into Finance

X’s move into finance comes after a difficult period. When Musk took over, many advertisers left, worried about their ads appearing next to unwanted content. However, most of these advertisers have now returned.

Research shows that X could earn $1.31 billion in U.S. ad revenue in 2025, a 17.5% increase from last year. Worldwide, ad sales could reach $2.26 billion, up 16.5%. Still, these numbers are lower than what Twitter made in 2022.

X now has far fewer employees, after Musk cut 80% of the staff. X has received approval to offer money services in 38 states, including California. However, it withdrew its application in New York after legal issues and has not reapplied.

By adding payments and investing, X hopes to keep users in its app for more activities, from chatting to shopping to managing money. If successful, this could change how people use social media and handle their finances, while also challenging other payment and banking services.