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## X (previously known as Twitter) Collaborates with Visa, X Money Accounts Launching Later This Year
### Main Points:
* Visa and X (previously known as Twitter) revealed a collaboration on Tuesday, designating Visa as the initial financial services collaborator for X.
* Users will gain the ability to move money from their Visa debit cards or financial institution accounts to their X Money accounts.
* X CEO Linda Yaccarino mentioned that this collaboration with Visa represents the first of numerous announcements concerning X Money accounts this year.
Payment heavyweight Visa (V) is joining forces with social media platform X to enable its X Money feature, scheduled for release in the latter portion of this year. Visa will act as the initial financial service platform for X Money.
Based on announcements issued by both the platform’s CEO and Visa on X on Tuesday, the payment processing frontrunner will ease the movement of money from debit cards and financial institution accounts to X Money accounts. Visa will additionally support X in constructing a platform that empowers users to execute payments to one another on the X platform.
The social media company’s CEO, Linda Yaccarino, posted on X on Tuesday that these accounts are slated to commence operation in the latter semester of this year, underscoring that this marks only the start of numerous X Money updates in 2025.
Visa affirmed in its formal declaration that it is very thrilled to collaborate with X (previously known as Twitter), and clarified that Visa Direct will empower X Money account users in the United States to utilize their debit cards for immediate top-ups and money transfers.
*Bloomberg* reported on Tuesday that X’s payment-oriented division has been authorized to function as a money transmitter in 41 states.
Tesla (TSLA) CEO Elon Musk, who took ownership of Twitter in 2022, has openly expressed his aspiration to transform the platform into an “everything app,” incorporating functionalities such as shopping and payments into the company’s existing social media services.
Incorporating payment processing, a prospective revenue source, would also assist in safeguarding X from future advertising spending reductions, which have decreased considerably under Musk’s leadership.
Okay, so the buzz going around, as per the Wall Street Journal, suggests that Musk had a brief discussion TruBit Collaborates with Morpho to Introduce DeFi Unearned Revenue in Latin America the X team during the weekend. From what I gather, he mentioned that the financial state isn’t particularly impressive, there’s a shortage of fresh sign-ups on the platform, and they’re barely managing to stay afloat. In essence, the current outlook isn’t very promising.”
