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Cross River to provide P2P payments and banking services for X Money

Cross River will handle the banking infrastructure for X Money, a financial services platform integrated into X, according to Cointelegraph. Based on that infrastructure, X Money will support peer-to-peer payments, interest-bearing accounts protected by the U.S. Federal Deposit Insurance Corporation, and a Visa debit card. Cross River said it designed the infrastructure so additional financial products and services can be added later. The announcement did not include support for cryptocurrencies or stablecoins.