X Taps William Shatner to Launch X Money Beta Invites

X is expanding its “everything app” ambitions by opening a limited beta for its payments service, X Money. In a unique rollout strategy, company owner Elon Musk teamed up with actor William Shatner to distribute the initial wave of access to the platform.

The distribution was tied to a charitable initiative: individuals received invites to the beta in exchange for a $1,000 donation to a charity supported by Shatner that aids veterans and children. The actor confirmed the auction was conducted with Musk’s approval, following a test transaction where Musk sent him $42—a nod to the sci-fi classic The Hitchhiker’s Guide to the Galaxy.

Inside the X Money Beta

Participants selected for this early trial gain access to a dedicated interface directly within the X app, located just below the Premium subscription link. Those granted access are also slated to receive a metal debit card issued in partnership with Visa, which supports the service’s person-to-person payment capabilities.

Screenshots shared by Shatner reveal a robust feature set for the beta:

• Interface: Tabs for Account, Rewards, and Activity, with direct options to request or send funds.
• Savings: Users can set up direct deposits, with some screens indicating potential annual percentage yields (APY) reaching up to 6.00%.
• Security: Deposits are held by Cross River Bank, a member of the FDIC, providing insurance coverage of up to $250,000 per individual.

Regulatory Progress and Future Scope

While X Money itself is not an FDIC-insured institution, the company has been aggressively securing money transmitter licenses across the United States. According to recent disclosures, X currently holds licenses in more than 40 states. During an internal meeting in February, Musk indicated that the service would undergo limited external testing before a planned global rollout.

This move aligns with Musk’s long-term vision to transform the platform into a comprehensive hub for digital life, mirroring his original 1999 financial startup, X.com. While the current test is embedded within the primary X application, the company is also experimenting with standalone apps for other features, such as X Chat, suggesting that X Money could eventually operate as a separate platform to rival competitors like PayPal, Venmo, and Cash App.

Musk has been vocal about the project’s potential, describing the service as “big” in social media posts while resharing updates about the beta rollout. The transition from internal employee testing to this charitable-focused public beta marks a significant milestone in the development of the company’s financial infrastructure.