Elon Musk recently unveiled a new project he’d been working on: XMoney. The mogul announced the launch of the money transfer app on his account on X, formerly Twitter, sparking a series of responses on the internet. The payment app is slated to be released sometime in April to beta users. So what is XMoney? And how different is it going to be from regular payment apps like Venmo?
According to reports by CBS News, XMoney is a payment platform on the social media app X. The app is set to be an “Everything App.” This means that everything from money transactions, shopping, and more will be in one single app.
𝕏 Money early public access will launch next month
— Elon Musk (@elonmusk) March 10, 2026
Users on the social media app can also send money to each other in real time by connecting their Visa debit cards to XMoney. Similarly, they can deposit money into Visa Direct for transactions.
This is part of Visa’s partnership with Musk’s app, nearly a year ago. The feature has secured US Licenses in 40 states, including Washington, D.C., and will be available to use accordingly. Further details, like other features of the app and whether or not users other than beta can use it, are highly anticipated.
@grok how is it going to work? Please explain… pic.twitter.com/I2yLUhFCc4
— MSIZI 🇿🇦 (@msiziworld) March 10, 2026
Netizens almost immediately reacted to Musk’s announcement about MoneyX’s launch in April 2026. The internet was filled with mixed reactions. Many expressed their excitement over the upcoming launch.
One user congratulated Musk, saying, “Great job, man!” Another said, “The number 1 app keeps getting better!” A third one exclaimed, “We are all excited, Elon, you are the best!” A fourth one noted, “This is a big shift. Adding financial features like XMoney moves the platform closer to becoming an everything app.” As the user mentioned, it is exactly Musk’s intention.
Others were not so positive about money being involved in a social media platform. This is considering the scammers and hackers who could potentially benefit from MoneyX’s launch.
Exciting step forward. If done right, X integrating payments could turn the platform into a much broader digital ecosystem. pic.twitter.com/lLQc8ps89K
— Chika Ike-ojukwu (@chikachiglobe) March 11, 2026
A user asked, “So many accounts destroyed for no reason other than mass reporting, and you want people to keep money on here?” Another user also asked, “How can we trust X with money if we can’t even trust it for social support? A third one mentioned, “This is the first step towards monetary control…”
It wasn’t just the internet that was critical of XMoney. Before getting his license to launch the app in those 40 States, New York officials had sent a letter to the Department of Financial Services in 2025. In the letter cited by the publication, the officials warn against issuing an approval to XMoney.
NEW: X partners with Visa to launch X Money.
If they can take away your checkmark or suspend your account, they can take away your money.
This is a precursor to a social credit system.
— Dominic Michael Tripi (@DMichaelTripi) January 28, 2025
The officials expressed their worry over XMoney’s business ethics. The letter claimed that the application, or rather the ones who run it, won’t conduct business “honestly, fairly, equitably, carefully, and efficiently.” Despite the pushback, it appears that Musk and his team are gearing up for an alleged game-changer in the world of finance.
Although many remain skeptical, users appeared rather excited about it. And it’s not just netizens from the USA. There were many global users who’ve asked Musk if the feature would be restricted only to America or if it would also be available across the globe. However, Musk has not confirmed whether or not XMoney will launch abroad or not.
