Elon Musk’s new payments app, X Money, began limited external beta testing this week, with early screenshots showing users will be entitled to cashback and deposit yield.
One of the beta testers included Hollywood actor William Shatner, who played Captain Kirk in the original Star Trek series, and was invited to join the beta.
Several screenshots shared by Shatner show that X Money users can earn cash back on certain card purchases and earn 6% annualized yield on deposits.
sauce: Elon Musk
Another screenshot shows the deposits are held by Cross River Bank, a member of the Federal Deposit Insurance Corporation, and are insured up to $250,000 per person.
X Money is part of Musk’s ‘every app’ vision
On February 11, Musk said that X Money would move into external beta before making it available to X users around the world. It has been in closed beta testing since at least May 2025.
However, the integration of crypto payments into X Money remains a mystery.
X Money is part of Musk’s broader vision to make X the app for everything, from payments and private messaging to AI chatbot services through Grok, creator content, identity, and more.
“This is meant to be the place where all your money is. It’s the central source of all financial transactions,” Musk said in February, calling it a “game changer.”
X, Shatner expands beta testing
Shatner has since used the $42 Musk sent him to raise money for charity. With X’s permission, Shatner auctioned off 42 X Money beta invitations for $1,000 each.
Each of the 42 winning bidders will receive a $25 welcome gift card from X, as well as the first dollar sent to Shatner by Musk.
After the first auction, Shatner and X launched a second round of invites, auctioning off 166 more beta invites, also for $1,000.
To be eligible, users must be 18 years of age or older, a U.S. resident, and maintain an active X Account in “good standing.”
sauce: william shatner
Those who sign up will receive a metal X Money debit card from X’s partner Visa with their username on it, Shatner said.
No sign of cryptocurrencies
Musk’s assessment of Dogecoin (DOGE) has sparked speculation in the crypto community that the meme coin could be part of X’s future, but nothing concrete has come out, let alone integrating it into X-money.
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X Money marks a return to payments for Musk, who founded X.com in the late 1990s before merging it into PayPal.
Over the past few years, X has secured money transfer licenses in more than 40 US states and registered with the Financial Crimes Enforcement Network to enable peer-to-peer payments on its platform.
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