X Money Beta: %6 APY and CROSS Insurance Launched

X Money Has Started Limited External Beta Testing

Elon Musk’s X Money payment app started limited external beta testing this week. Early screenshots show that users will earn cashback on specific card purchases and obtain 6% annual returns on deposits. Deposits are held at Cross River Bank, associated with FDIC member CROSS detailed analysis, and insured up to $250,000 per person.

Source: Elon Musk

X Money’s Highlighted Features and FDIC Coverage

• Cashback: Instant refunds on specific card purchases.
• %6 APY: High interest on deposits, surpassing traditional banks.
• FDIC Insurance: Protection up to 250,000 USD through Cross River Bank, boosting user confidence.

These features strengthen X’s vision of an all-in-one app: payments, messaging, and Grok AI integration.

William Shatner’s Beta Adventure and Auction Story

Hollywood actor William Shatner was invited as a beta tester and shared screenshots. He used the $42 from Musk for charity. With X’s permission, he auctioned 42, then 166 beta invitations for $1,000 in an AUCTION futures-like auction. Participants must be US residents aged 18+, active X account holders, and will receive a metal debit card from the Visa partner.

Source: William Shatner

Crypto Integration and DOGE Expectations

The external beta announced on February 11 has been in closed testing since May 2025. Crypto integration is not yet clear, but with Musk’s love for DOGE detailed analysis, it’s speculated that X Money could introduce stablecoin or DOGE payments. Cross River’s fintech background provides ideal groundwork for crypto bridges.