Elon Musk's social media platform X has launched an invite-only financial service called X Money, allowing users to send cash to one another. The service, which leverages Cross River Bank's infrastructure, offers users an X-branded Visa debit card, real-time transfers, and a 6% yield on deposits for those meeting certain criteria. This move aligns with Musk's long-term vision of transforming X into an "everything app" that incorporates financial services, reminiscent of his earlier venture X.com, which eventually merged into PayPal. AI
IMPACT Expands the 'everything app' concept into financial services, potentially integrating AI for future features.
RANK_REASON Launch of a new financial service by a social media platform, not a core AI release.
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