Cross River to Provide Banking Infrastructure for X Money

X Money will use Cross River’s banking infrastructure to enable peer-to-peer payments, interest-bearing accounts and Visa debit cards as X expands its financial services platform.

Cross River to Provide Banking Infrastructure for X Money

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Written by

Nate Kostar

staff writer

Reviewed by

Sam Bourgi

staff writer

Written by

Nate Kostar

staff writer

Reviewed by

Sam Bourgi

staff writer

Cross River to enable P2P payments, banking services for X Money

Latest News

Published

Jul 27, 2026

The banking-as-a-service provider will power X Money’s peer-to-peer payments, FDIC-insured accounts and Visa debit cards as the platform expands its financial services.

Cross River said Monday it will provide the banking infrastructure for X Money, the financial services platform being integrated into X, enabling peer-to-peer payments, FDIC-insured interest-bearing accounts and Visa debit cards.

The company said its banking platform and payment rails will power the service as X continues its push to become an “everything app,” with infrastructure designed to support additional financial products and services over time.

Cross River provides embedded financial infrastructure for payments, cards, lending and cryptocurrency services to fintech and technology companies through its regulated banking platform and payment rails. The announcement did not mention support for cryptocurrencies or stablecoins.

Elon Musk confirmed in May 2025 that X Money had

entered limited beta testing

, saying the initial rollout would be limited because “extreme care” was needed when handling users’ savings. The service expanded to a limited external beta in March 2026 ahead of a wider launch.

Musk has been teasing X Money since at least 2022, when he described his acquisition of Twitter as “an accelerant to creating X, the everything app.” Since then, X has obtained money transmitter licenses in more than

40 US states

and registered with the Financial Crimes Enforcement Network to enable peer-to-peer payments on the platform.

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