X Money Launches in 41 States as Regulatory Scrutiny Grows

X has officially moved its payment service, X Money, out of its limited testing phase. Starting July 27, the service became available to Premium and Premium+ subscribers across 41 U.S. states. This expansion allows users to access a Visa debit card backed by FDIC coverage of up to $10 million, signaling a serious push into the financial services sector.

The rollout marks a shift from a private beta to a public product. By integrating banking features directly into the social platform, the company hopes to keep users engaged within its own ecosystem. The move is a significant step in the long term vision to turn the app into an all in one hub for communication and finance.

Not everyone is welcoming the news. Senator Elizabeth Warren has publicly questioned the risks associated with the platform's financial expansion. Critics argue that adding banking features to a social media giant could create new stability concerns. Investors will be watching to see how quickly the platform can gain adoption while managing potential legal hurdles and political pressure.