X to Launch X Money Payments Service in 38 US States

X, the social media platform formerly known as Twitter, has announced plans to launch X Money, its payments service, in 38 US states. The rollout marks a significant step in Elon Musk's vision of transforming X into an everything app with comprehensive financial services.

X Money will enable peer-to-peer payments, merchant transactions and potentially other financial services through the X platform. The phased state-by-state launch reflects the complexity of obtaining money transmitter licences across the United States.

The payments launch is central to Musk's long-stated ambition of building a super app modelled on China's WeChat, which combines social media, messaging and financial services. The success or failure of X Money could define whether Western consumers are ready for the super app model.