X is set to launch its X Money app for paid subscribers in the US. Users will receive an X Visa debit card, which can be added to Apple Pay and used for instant peer-to-peer transfers without fees.

For those who pay $40 per month or $395 per year as X Premium+ users, there’s a 6% APY on their account. Regular X Premium users (paying $8 per month) can also enjoy this rate by linking a direct deposit to their X Money accounts.

Additionally, up to 3% cash back is available on certain purchases, with early access for those who link direct deposits. Physical debit cards are also offered, free from foreign transaction fees and with free ATM withdrawals worldwide.

The launch of X Money follows a decades-long dream for Elon Musk, starting with the founding of X.com in 1999 as a financial services startup that later became PayPal. After acquiring Twitter in 2022, he renamed it to X and re-purchased the X.com domain name.

The rollout is part of Musk’s ambition to turn Twitter into an 'everything app,' making this move a significant step towards his vision.