X has officially opened its X Money payments service to a select group of beta testers, utilizing an unconventional partnership with actor William Shatner to distribute invites. The launch, which replaces internal employee-only testing, allows participants to gain access in exchange for a $1,000 donation to a charity dedicated to supporting children and veterans.
The Shatner-Musk Collaboration
The “Star Trek” icon has been actively sharing details regarding the beta program, which was made available via an online auction this past Monday. Elon Musk bolstered the initiative by resharing Shatner’s posts, briefly stating, “X Money,” and later commenting, “This will be big.”
Here’s a few more screenshots. There’s a debit card with cash back too! 😳😱 pic.twitter.com/yeKE1gXAjQ
— William Shatner (@WilliamShatner) March 3, 2026
Inside the Beta Auction
Shatner confirmed that the auction proceeded with Musk’s approval. To demonstrate the functionality, Musk sent Shatner a $42 payment via the app—a nod to the sci-fi classic “The Hitchhiker’s Guide to the Galaxy.” A total of 42 beta invites were allocated to the highest donors.
Participants who secured an invite will see a dedicated X Money link appear within the app, positioned directly beneath the Premium subscription tab. These early adopters are also set to receive a custom metal X Money debit card, powered by a partnership with Visa to facilitate peer-to-peer transactions.
The “Everything App” Vision
Integrating payments is a cornerstone of Musk’s long-term strategy to transform X into an “everything app.” The platform aims to consolidate diverse services, including private messaging, creator content, subscription models, and video streaming under one roof.
All 42 usernames have now been given to X for entry into the Beta. The easiest way to tell if you are active is to look at your profile for the Money Link. pic.twitter.com/Dl39F8aefB
— William Shatner (@WilliamShatner) March 4, 2026
Features and Financial Infrastructure
Early screenshots revealed an interface organized into three primary tabs: Account, Rewards, and Activity. Users are equipped with tools for deposits, money transfers, and payment requests. Furthermore, the interface suggests options for direct deposits with competitive APY rates, with one screen highlighting a potential 6.00% return.
While X Money is not an FDIC-insured bank, user deposits are held by Cross River Bank, providing insurance up to $250,000 per individual. X is aggressively pursuing regulatory compliance, having already secured money transmitter licenses in over 40 U.S. states. Musk has indicated that a wider external beta is expected in the coming months, preceding a global rollout.
Market Competition
Following the recent testing of a standalone X Chat app, industry analysts speculate that X Money may eventually receive its own dedicated application. Such a move would position the service to compete directly with established fintech players like Venmo, PayPal, and Cash App. Musk’s involvement in digital finance is far from new; he co-founded the startup X.com in 1999, which later merged to become PayPal, ultimately rebranding Twitter to X as a tribute to his early career.
