X Money is the new feature coming in Elon Musk's platform

When Elon bought Twitter for $44 billion a few years ago, one of his big selling points was to change it from a microblogging platform to a full-fledged "everything app." Similar to Tencent's WeChat app in China, it would provide instant messaging, social media, mobile payments, food delivery, and other features.

Over the years, Musk has assembled components for his all-app vision, such as the Grok LLM on X (which, by the way, is being trained on your X posts) and the introduction of calling functionality.

X has taken another step towards realising this ambition. Linda Yaccarino, the company's CEO, has announced the future X Money product, which would work with Visa to deliver a peer-to-peer payment solution based on Visa Direct. According to X's profile, X Money will be available in 2025. Here's what she posted on X:

But, here's the deal. This isn't the first time we've heard about X as a potential financial services supplier. Right after Musk took over Twitter, a meeting tape showed his plans for X to replace banking apps and become the go-to platform for all things financial. This is what he said:

When I say payments, I actually mean someone’s entire financial life. If it involves money, it will be on our platform, whether that’s money, securities, or whatever. So, it’s not just like, ‘Send $20 to my friend.’ I’m talking about, like, you won’t need a bank account.