X, Elon Musk’s social platform formerly known as Twitter, is expanding its ecosystem with a new payments service called X Money, and it’s taking an unusual approach to invite early users. Instead of traditional beta invitations, actor William Shatner teamed up with Musk to offer access to the service through a charity auction. Participants could secure a beta invite by donating $1,000 to Shatner’s charity supporting children and veterans.
Shatner has been actively sharing details about X Money on the platform, highlighting how users could participate in the auction. Musk also promoted the initiative by resharing Shatner’s posts, signaling the service’s importance. A playful touch appeared in the auction itself: Musk sent Shatner $42 via the X Money app, a nod to The Hitchhiker’s Guide to the Galaxy, where 42 represents the answer to life’s ultimate question. Following the auction, 42 invites were awarded to the winners.
Once accepted, winners see the X Money link appear in their app just below the Premium section. They also receive a personalized metal X Money debit card issued in partnership with Visa, enabling person-to-person payments directly within the platform. Screenshots shared by Shatner show a user-friendly interface with three main tabs: Account, Rewards, and Activity. Users can deposit funds, send or request money, and set up direct deposits to earn interest—up to 6.00% APY in some cases. Funds are held by Cross River Bank, Member FDIC, insured up to $250,000 per individual.
X Money is not a bank itself but has been securing money transmitter licenses across more than 40 U.S. states. Musk told employees in a February all-hands meeting that X Money would enter a limited external beta within a month or two, with plans to roll out more broadly later.
This move complements Musk’s broader strategy to turn X into an “everything app,” offering messaging, subscriptions, video content, creator tools, and now financial services. Screenshots suggest X Money may eventually operate independently, much like the standalone X Chat app currently being tested, positioning it to compete with services such as Venmo, PayPal, and Cash App.
Musk’s interest in payments is long-standing. He founded X.com in 1999, an online financial platform that eventually merged into PayPal. The launch of X Money continues his vision of integrating financial services directly into the X ecosystem, merging social networking and payments under one roof.
