X Money Goes Live: First $25 P2P Payment Sent to Elon Musk

X Money, the new payment service from X, launched its peer-to-peer (P2P) transfer feature for US Premium subscribers on June 26, 2026. The first live demonstration occurred when a user sent $25 directly to Elon Musk, the company's CEO, who confirmed the transaction.

The Product

X Money allows users to send and receive money directly within the X app, eliminating the need for third-party apps. The service is integrated with Visa and uses its payment network for settlement. It emphasizes ease of use and real-time processing.

Pricing and Availability

Currently, the service is only available to Premium subscribers in the United States. The company has not yet disclosed transaction fees or international expansion plans. Future features may include merchant payments and bank account transfers.

Competition

X Money enters a competitive market dominated by PayPal, Venmo, Cash App, and Apple Pay. However, X's large user base and integration with social media could give it an edge in social payments and in-app commerce.

Potential Impact on the Company

The launch marks a significant step in X's transformation into a "super app" similar to China's WeChat. It could open a new revenue stream through transaction fees and increase user engagement. The partnership with Visa also strengthens X's position in the fintech space.