Cross River to enable P2P payments, banking services for X Money

Written by Nate Kostarstaff writerReviewed by Sam Bourgistaff writerWritten by Nate Kostarstaff writerReviewed by Sam Bourgistaff writerCross River to enable P2P payments, banking services for X MoneyLatest NewsPublishedJul 27, 2026<!–>

The 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 said Monday it will provide the banking infrastructure for X Money, the financial services platform being integrated into X, enabling peer-to-peer payments, FDIC-insured interest-bearing accounts and Visa debit cards.

The company said its banking platform and payment rails will power the service as X continues its push to become an “everything app,” with infrastructure designed to support additional financial products and services over time.

Cross River provides embedded financial infrastructure for payments, cards, lending and cryptocurrency services to fintech and technology companies through its regulated banking platform and payment rails. The announcement did not mention support for cryptocurrencies or stablecoins.

Elon Musk confirmed in May 2025 that X Money had entered limited beta testing, saying the initial rollout would be limited because “extreme care” was needed when handling users’ savings. The service expanded to a limited external beta in March 2026 ahead of a wider launch.

Musk has been teasing X Money since at least 2022, when he described his acquisition of Twitter as “an accelerant to creating X, the everything app.” Since then, X has obtained money transmitter licenses in more than 40 US states and registered with the Financial Crimes Enforcement Network to enable peer-to-peer payments on the platform.

Magazine: Peter Brandt predicts the exact day Bitcoin’s bear market will be over

<!–>

Subscribe to daily byte-sized crypto news from Cointelegraph

[–> Subscribe Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

• Elon Musk
• Twitter
• Banking
• Industry

More on the subject

<!–>[–>12 hours agoRobert Lakin<!–>[–>

<!–>[–>12 hours agoNate KostarNews Brief<!–>[–>

<!–>[–>14 hours agoNate Kostar

<!–>[–>12 hours agoRobert Lakin<!–>[–>

<!–>[–>12 hours agoNate KostarNews Brief<!–>[–>

<!–>[–>14 hours agoNate Kostar