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X Money Launch: Social media platform The company has launched for select people in America X Money Has started a new financial service named. Through this platform, users will not only be able to chat or post, but will also be able to avail facilities like sending, receiving and saving money.

What is X Money?

X Money is a digital finance service that can be used within the X app. Its objective is to provide different banking and payment facilities to the users on a single platform. At present, it has been started with limited users of America and in the coming time it will be extended to more people.

Users will get these special facilities

• Facility to send and receive money instantly.
• Claim up to 6% interest per annum on eligible accounts.
• Both virtual and physical debit cards.
• Cashback benefit on selected purchases.
• Cash withdrawal from ATM without additional charges.
• Facility to get salary early through direct deposit.

There will be special focus on security

According to the company, modern security features have been provided in X Money for the safety of the users. This includes features like passkey authentication, the option to set transaction limits, and additional security checks for every payment. International level fraud protection system will also be used to keep debit card transactions secure.

Who will be able to open X Money account?

At present this facility has been made available to adult citizens of America. To open an account, the user must complete an identity verification process. Along with this, it will be necessary to provide active X account and necessary documents.

Part of Elon Musk’s bigger vision (X Money Launch)

X owner Elon Musk has long been working on plans to make the platform an “everything app”. Under this thinking, preparations are being made to make social media, messaging, payment, banking and other digital services available in a single app. X Money is considered to be an important step taken in this direction.

Will this facility be available in India also?

Currently, X Money has been launched only for some users of America. The company has not announced any official deadline for its launch in other countries. If this service comes to other markets in future, it will be made available only after local banking rules and regulatory approvals.