Visa, Elon Musk's X Partner to Launch 'X Money' Accounts Later This Year

Core Insights - Visa is partnering with social media platform X to become the first financial services provider for its upcoming "X Money" feature, which is expected to launch later this year [2][5] - The partnership will enable users to transfer funds from Visa debit cards and bank accounts to "X Money" accounts, facilitating real-time money transfers [3][5] - X's CEO Linda Yaccarino indicated that this partnership is just the beginning, with more announcements regarding X Money expected in 2025 [3][5] Company Developments - The partnership with Visa is aimed at enhancing X's revenue streams, particularly in light of declining ad spending since Elon Musk's acquisition of the platform [5] - X has received licensing to operate as a "money transmitter" in 41 states, which will support its payment processing capabilities [3] - Elon Musk's vision for X includes transforming it into an "everything app," integrating shopping and payment functionalities alongside its social media features [4]