Elon Musk's X Unveils X Money: A Visa-Powered Digital Wallet
| Aspect | Details |
|---|---|
| Why in News | X (formerly Twitter) launching "X Money," a Visa-powered digital wallet. |
| Key Features | - Instant funding via Visa Direct. |
| - Peer-to-peer payments and bank transfers. | |
| - Seamless integration with debit cards. | |
| Regulatory Steps | - Money transmitter licenses secured in 41 U.S. states. |
| - Availability may vary by state due to local regulations. | |
| Strategic Vision | - Transform X into a "super app" offering messaging, payments, and streaming. |
| - Aligns with Elon Musk's vision of an "everything app." | |
| Partnership | - Collaboration with Visa for digital wallet services. |
| Launch Timeline | - Expected to launch later this year in the U.S. |
| - Plans for international expansion in the future. | |
| Key Entities | Elon Musk: CEO of X (formerly Twitter). |
| Visa: Partner for X Money's digital wallet. | |
| X: Formerly known as Twitter. |