Introducing the groundbreaking X Money financial service in collaboration with Visa, a major credit card provider. This innovative service allows seamless transfer of funds between bank accounts and X Wallet through Visa Direct, bridging debit card accounts for peer-to-peer transactions on X Money platform.
The financial service on X Money is a strategic move towards expanding the capabilities of the X platform, aligning with Elon Musk’s vision of creating an all-encompassing daily life app. With recent licensing approval in the US, under the subsidiary X Payments, operations are set to begin in 41 states within the first quarter of this year. Future partnerships with additional financial service providers are in the pipeline, as X Money aims to initially cater to users in the US exclusively.
Source: CNBC
TLDR: Visa collaborates with X Money to introduce X Money Account, enabling real-time fund transfers for US users via Visa Direct and debit cards.
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