Elon Musk's X finally launched X Money on Monday for US Premium and Premium+ subscribers, after years of delays, offering peer-to-peer payments, a linked card and a 6 percent annual yield on deposited funds. The rollout falls well short of Musk's "everything app" ambitions, however, with significant restrictions that could frustrate users and limit adoption of the payments service.

Users can currently only send money to other adult X users who also have X Money, and the linked X Card cannot be used for purchases everywhere when added to digital wallets like Apple Pay or Google Pay, because X lacks money transmitter licences in New York and Massachusetts. Analysts warn this patchy coverage creates confusion and could deter widespread use. Additional risks include losing access if the X platform goes down, with no proper fallback offered, or having withdrawals frozen for up to 180 days if account activity triggers restrictions—concerns compounded by X's heavily reduced customer support since Musk's 2022 takeover, in contrast to the larger dispute-resolution teams typically maintained by banks.