X Expands Beyond Ads with Bold Fintech Pivot

Elon Musk’s X is rapidly transforming from a social media platform into a full-fledged fintech powerhouse. Following its rebrand from Twitter, the company is doubling down on plans to introduce integrated financial services, aiming to become an all-in-one app for communication, commerce, and now, finance. Speaking at the Cannes Lions festival, CEO Linda Yaccarino revealed that X users will soon be able to manage nearly every aspect of their financial life on the platform—including sending money, tipping content creators, making purchases, and engaging in investment and trading activities.

A cornerstone of this shift is the launch of X Money, a digital wallet developed in collaboration with Visa. The wallet, initially rolling out in the U.S., will support peer-to-peer transfers, real-time transactions, and card-linked payments, potentially paving the way for X-branded debit or credit cards. These financial tools are expected to include features like spending rewards and streamlined access to financial products—all within the app.

To support this ambitious pivot, X has been securing money-transmitter licenses across more than 40 U.S. states and registering with FinCEN, laying the legal groundwork for a full-scale financial offering. While the integration of crypto assets hasn’t been confirmed, many speculate that digital currencies could play a role in the future, given Musk’s well-known support for crypto.

This fintech expansion is part of Musk’s broader vision to diversify X’s revenue streams, especially after a major drop in advertising revenue following his acquisition. With most major advertisers reportedly returning, X is now focusing on deepening user engagement through built-in financial tools and services.

Ultimately, Musk’s goal is to reshape X into a Western version of China’s WeChat—a one-stop ecosystem where users can chat, shop, pay, and invest, all within a single seamless platform.