Cross River to enable P2P payments, banking services for X MoneyThe 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, a banking-as-a-service provider, announced it will supply the banking infrastructure for X Money, a financial services platform integrated into X (formerly Twitter). This partnership will enable X Money to offer peer-to-peer payments, FDIC-insured interest-bearing accounts, and Visa debit cards. Cross River’s regulated banking platform and payment rails will support these services, with infrastructure designed to accommodate additional financial products in the future.

X Money is part of X's broader strategy to evolve into an "everything app," incorporating financial services alongside its social media functions. Although Cross River provides embedded financial infrastructure for payments, cards, lending, and cryptocurrency services to fintech companies, the announcement did not specify any support for cryptocurrencies or stablecoins within X Money. Elon Musk confirmed in May 2025 that X Money had entered limited beta testing, emphasizing caution in handling users' savings, with a wider rollout planned after the service expanded to an external beta in March 2026.

The development matters because X has secured money transmitter licenses in over 40 U.S. states and is registered with the Financial Crimes Enforcement Network, enabling peer-to-peer payments at scale on the platform. This infrastructure collaboration with Cross River reflects X’s ambitions to grow its suite of financial tools, signaling a significant step in its transformation into a comprehensive financial and social communications platform.