JAKARTA - Social media platform X under the leadership of Elon Musk officially announced cooperation with credit card giant Visa. The two collaborated to launch a digital wallet scheduled for release at the end of 2025.

The partnership is an important milestone in realizing Musk's ambition to transform X into an "Everything App" or versatile application that not only functions as a social media platform, but can also be used for financial transactions.

Linda Yaccarino, CEO of X, made this important announcement on January 28, 2025. She revealed that Visa will be the first partner for the soon-to-be-launched X Money account. X Money allows users to fill in the balance instantly via Visa Direct, a real-time money transfer solution from Visa.

This digital wallet can later be used to make payments between users via debit card, and transfer funds back to a bank account easily.

With the presence of X Money, X has big ambitions to challenge the dominance of giant players in the world of digital payment services, such as Venmo, Cash App, and Zelle, which currently dominates the United States market.

This service will also provide convenience for content creators to accept payments for content they monetize directly to their X accounts, without the need to rely on conventional banks.

Although rumors about X's possibility of adopting payments using Dogecoin (DOGE) were circulating, the official announcement did not mention the cryptocurrency at all.

From the start, Musk had conveyed his vision of making X a strong financial platform, and he even called it the "largest financial institution in the world" in an interview in March 2023.

X has also applied for a remittance permit in the US over the past year and has now successfully obtained a license in 41 states. However, the X Money service will likely not be available across US territory when it was first launched. Currently, X has around 55 million users in the United States.


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