Cross River to enable P2P payments, banking services for X Money
Cross River Bank announced it will provide the banking infrastructure for X Money, the financial services platform being integrated into X (formerly Twitter). This partnership will enable peer-to-peer payments, FDIC-insured interest-bearing accounts, and Visa debit cards. Cross River's regulated platform and payment rails will power the service, supporting X's ambition to become an "everything app" with potential for future financial products. The announcement did not mention cryptocurrencies. Elon Musk first teased X Money in 2022, and the service entered limited beta testing in May 2025, emphasizing caution with user funds. It expanded to a limited external beta in March 2026. X has obtained necessary money transmitter licenses in over 40 U.S. states and registered with FinCEN to facilitate payments.
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