Elon Musk’s X has officially launched the payment platform X Money, linked to the social media website as part of a long-awaited move to turn it into an “everything app”.X Money offers users a digital wallet and a peer-to-peer payments system that includes Apple Wallet support.After spending months in an invite-only beta stage, it is being widely rolled out in the US for Premium and Premium+ subscribers of X on Tuesday, the social media giant said.The new feature allows users to have a deposit account, use its peer-to-peer payment system, and save their Visa debit card inside X.Since launching a small robotaxi pilot in Austin in June 2025, Tesla has expanded to only a handful of other cities, in Texas and Florida, with service often limited to outlying areas (AFP/Getty)X Money users can send, receive, or request money from others on X without fees or limits, the company said.“Deposit accounts are held at Cross River Bank, Member FDIC, and insured up to $250,000,” X said.X noted that a virtual card is issued for those signing up to the service, which can be added to Apple Pay through Apple Wallet.“Eligible purchases” made with the X card provide three per cent cash back, the company said.“Earn up to 6.00 per cent APY with Premium+, and up to 6.00 per cent APY with Premium once Qualifying Direct Deposit requirements are met,” X said.Users can also avail a physical metal card on which they can personalise how their name appears and choose whether they would want to include their X username. The tech giant said users may receive a $15 welcome deposit for joining the service, with “fast, dedicated support” when needed.“Your Money account is secured with passkeys for safe and fast authentication.... Every card transaction is protected by Visa’s security and risk management capabilities,” X Money said on its X account.Currently, the feature is available for adult US residents with an X account who have a verified US phone number.(AFP/Getty)The Money feature has been in line with Mr Musk’s long-stated goals of turning X into an “everything app” similar to Chinese super apps WeChat and Alipay.“When I say payments, I actually mean someone’s entire financial life....If it involves money. It’ll be on our platform,” he said during a staff meeting in 2023.US Senator Elizabeth Warren previously outlined concerns surrounding X Money in a letter to Mr Musk in April.“If your track record operating X is any indication of how you’ll operate X Money, consumers, our national security, and the stability of the financial system may be at risk,” Ms Watten wrote in the letter.“Your failure to operate X in a safe and responsible manner does not breed confidence in your ability to safely expand into consumer finance,” she said.The Independent has reached out to X for comment.