Cross River will take charge of the banking infrastructure for X Money, a financial services platform integrated into X. Cointelegraph reported on July 27 that, based on this, X Money will support peer-to-peer payments, interest-bearing accounts protected by the U.S. Federal Deposit Insurance Corporation (FDIC), and a Visa debit card.
Cross River said it will support X Money services with its banking platform and payments network. It said it designed the infrastructure so additional financial products and services can be added later in line with X's "everything app" strategy.
Cross River has provided fintech and technology companies with embedded finance infrastructure related to payments, cards, loans and cryptocurrencies through a regulated banking platform and payments network. The announcement, however, did not include support for cryptocurrencies or stablecoins.
The launch of X Money is proceeding in stages. Elon Musk (일론 머스크) confirmed in May 2025 that X Money entered a limited beta test and said extreme caution was needed because it deals with users' savings. X Money later expanded into a limited external beta phase ahead of a broader launch in March 2026.
Chi-gyu Hwang
delight@d-today.co.kr