Elon Musk's X Platform to Launch Financial Services

Elon Musk's social media platform, X, is set to introduce a range of financial services, allowing its 600 million users to conduct payments and investments directly within the app. In a recent interview, CEO Linda Yaccarino mentioned that users will eventually be able to manage their entire financial lives on the platform. Plans are underway for an X-branded credit or debit card, potentially launching later this year. Musk has confirmed beta testing for the X Money payment and banking app, emphasizing the need for caution during the pilot phase due to the involvement of users' savings. The X Money app is expected to debut in the US, creating a comprehensive commerce and financial ecosystem. While there is speculation about the inclusion of cryptocurrency payments, particularly given Musk's support for Dogecoin, no official confirmation has been made. Meanwhile, other companies like Visa and JPMorgan Chase are advancing their own digital asset payment solutions. Read more AI-generated news on: https://app.chaingpt.org/news