Elon Musk’s X Money to Begin April Public Test — Fiat-first Wallet, No DOGE Support Yet

Elon Musk’s X Money will enter early public testing in April as an integrated custodial wallet and payments system inside the X app. The launch is U.S.-only for verified users 18+, leveraging Visa Direct for instant P2P transfers, virtual and physical Visa cards, multiple top-up methods (direct deposit, bank/ACH, card), and FDIC-backed deposits via partner banks. X says it holds more than 40 U.S. money-transmitter licenses and is registered with FinCEN; Visa Direct and banks such as Cross River Bank are listed as partners. Initial features emphasize fiat rails, deposit insurance and competitive yields (advertised up to ~6%), targeting users of Venmo and Cash App and aiming to extend creator payouts, bill pay and later financial services like savings and lending. Although market speculation anticipated crypto integration, public documentation and early product materials do not include crypto payments or native DOGE support; internal notes and Musk’s remarks indicate crypto (Bitcoin, Ethereum, Dogecoin) may be considered later, but any such move would face U.S. regulatory and payments compliance hurdles. Market reaction to the announcement briefly lifted DOGE prices and volumes and increased futures open interest; traders should monitor signals for confirmed crypto on-ramps, licensing updates or explicit product changes, since native crypto support or a stablecoin on X would be a major on-ramp that could materially affect DOGE and broader crypto demand.