Elon Musk is once again making waves, this time with X Money, a payment system set to launch in 2025. According to Forbes, recent leaks suggest the platform could roll out even without securing approvals across all U.S. states.

The speculation began when Alex Finn, a popular X influencer, shared details of new code shipped by the platform. “New X code has just shipped that reveals X Payments will launch without approval from all 50 states,” Finn wrote, sparking curiosity about how Musk plans to bypass regulatory hurdles.

Since rebranding Twitter into X, Musk has been busy acquiring state-level money transmitter licenses. As Forbes reports, this is part of his larger goal to turn X into an "everything app," similar to China's WeChat. It’s a move that aligns with Musk's broader ambitions in social media and fintech.

Adding fuel to the fire, X CEO Linda Yaccarino hinted at the arrival of X Money during a New Year’s announcement. “X will connect you in ways never thought possible. Buckle up,” she posted, alongside mentions of other upcoming features like X TV and Grok.

The leaks have led to speculation about how X Money will function. Many believe it could incorporate cryptocurrency or stablecoins to provide faster, cheaper transactions. “Crypto will probably be a good amount of rails for [X] payments,” Finn suggested in a broadcast, echoing Musk’s long-time interest in digital currencies.

The timing couldn’t be more interesting. Bitcoin is nearing $100,000, rekindling investor interest in cryptocurrency. Meanwhile, geopolitical tensions, including economic challenges in China, have added urgency to finding new ways to facilitate global payments. Forbes notes that Musk’s declaration of a "financial emergency" earlier this week reflects this growing need for innovation.

Although Musk has yet to comment on the leaks, the official X Money account is already active, boasting over 140,000 followers. This signals that preparations are moving forward, even if many details remain unclear.

With X Money, Musk seems poised to disrupt yet another industry. As Forbes highlights, the integration of payments, crypto, and technology under one platform could set a new standard for digital transactions. The world is watching closely to see if Musk can deliver on this ambitious promise.

SOURCE: FORBES | PHOTO: ADOBESTOCK