Cross River to Power X Money P2P Payments and Banking Services

Cross River will provide banking infrastructure for X Money, enabling P2P payments, FDIC-insured accounts, and Visa cards as X expands its financial ecosystem.

Woofun AI reports that Cross River will supply the banking infrastructure for X Money, the financial services platform integrated into X. This partnership enables peer-to-peer payments, FDIC-insured interest-bearing accounts, and Visa debit cards. Cross River’s regulated banking platform and payment rails will support the service as X advances its strategy to become an "everything app", with infrastructure designed to accommodate additional financial products over time. The company provides embedded financial infrastructure for payments, cards, lending, and cryptocurrency services to fintech and technology firms.

Notably, the announcement did not mention support for cryptocurrencies or stablecoins.

Elon Musk confirmed in May 2025 that X Money had entered limited beta testing, stating that the initial rollout would be restricted because "extreme care" was needed when handling users’ savings. The service expanded to a limited external beta in March 2026 ahead of a wider launch. Musk has been teasing X Money since at least 2022, describing his acquisition of Twitter as "an accelerant to creating X, the everything app." Since then, X has obtained money transmitter licenses in more than 40 US states and registered with the Financial Crimes Enforcement Network to enable peer-to-peer payments on the platform.