TLDR
- Elon Musk’s X Money app has entered limited external beta testing with cashback and 6% APY on deposits
- Actor William Shatner is among the beta testers and shared early screenshots of the platform
- Deposits are held by Cross River Bank and are FDIC-insured up to $250,000
- Beta invites were auctioned for $1,000 each, raising money for charity via Shatner
- Despite Musk’s ties to Dogecoin, there is no crypto integration in X Money so far
Elon Musk’s payment app X Money has launched limited external beta testing this week. Early screenshots show features including cashback rewards, a 6% annual percentage yield on deposits, and FDIC-insured accounts.
๐ Money https://t.co/JQ51VrmQeI
— Elon Musk (@elonmusk) March 4, 2026
Hollywood actor William Shatner, best known for playing Captain Kirk in the original Star Trek series, was one of the first beta testers. He shared several screenshots of the app on social media.
The screenshots show that users can earn cashback on certain card purchases. Deposits earn a 6% annual percentage yield.
Deposits are held by Cross River Bank, a member of the Federal Deposit Insurance Corporation. Accounts are insured up to $250,000 per person.
X Money is part of Musk’s plan to turn X into an “everything app.” The platform is meant to handle payments, messaging, AI services through Grok, and more.
Musk described X Money in February as “the place where all money is.” He called it “the central source of all monetary transactions.”
X Money had been in closed beta since at least May 2025. On February 11, Musk announced it would move to external beta before a wider launch.
How Beta Invites Were Distributed
Musk sent Shatner $42 to test the app. Shatner used that money to raise funds for charity by auctioning 42 X Money beta invites for $1,000 each, with X’s permission.
It came as a pop up message on my phone. And I was thinking: what the heck is he doing now? ๐ https://t.co/P31z9RXAGR pic.twitter.com/bY92YnjOkw
— William Shatner (@WilliamShatner) March 4, 2026
Each winning bidder received a $25 welcome gift card from X and $1 that had originally been sent to Shatner by Musk. A second round followed, auctioning another 166 invites at the same price.
To be eligible for beta access, users must be US residents over 18. They also need an active X account in good standing.
Beta users will receive a metal X Money debit card with their username on it. The card is issued through X’s partner, Visa.
No Crypto Integration Yet
Despite Musk’s well-known support for Dogecoin, there is no sign of any cryptocurrency integration in X Money. No concrete plans for crypto payments have been announced.
X Money marks Musk’s return to financial services. He founded X.com in the late 1990s, which later merged to become PayPal.
In recent years, X has obtained money transmitter licenses in more than 40 US states. The company has also registered with the Financial Crimes Enforcement Network to allow peer-to-peer payments on the platform.
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