X has officially rolled out X Money to US Premium and Premium+ subscribers, expanding beyond its beta phase. The service combines a deposit account, high-yield savings rates, and a Visa debit card.
X Money offers Premium and Premium+ subscribers a deposit account with up to 6% APY, free instant transfers between X users, and an associated Visa debit card. The service includes Apple Wallet support, streamlining access for iPhone users.
The launch marks X's expansion into financial services, leveraging its subscription base to compete in the fintech space. Free instant transfers on the platform could encourage money movement among its user base, while the competitive APY rate positions X Money against traditional savings accounts and other digital banking alternatives.
The Visa debit card integration enables real-world spending capabilities, extending X Money beyond peer-to-peer transfers. This move follows X's previous financial services experiments and represents a significant step toward building a more comprehensive financial ecosystem within the platform.
The rollout is currently limited to US-based Premium and Premium+ subscribers, with broader availability potentially coming later.
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