# X

> X is the social platform formerly known as Twitter; under Elon Musk it launched X Money, a U.S. payments and banking-adjacent service inside the app.

Source: https://www.neobank.wiki/wiki/x
Last updated: 2026-08-11
Categories: Financial technology, United States fintech, United States neobanks, Partner-bank neobanks, Payment platforms, Consumer neobanks, Companies founded in 2006

**X** (formerly **Twitter**) is a global social media platform owned by X Corp. After [Elon Musk](/wiki/elon-musk) acquired Twitter in 2022 and rebranded it to X, the company pursued an "everything app" strategy culminating in **X Money**—peer-to-peer payments, deposit balances and a Visa debit card inside the X app—placing it squarely in [neobank](/wiki/neobank) and fintech coverage on this wiki.[^x1]

## History

Twitter launched in 2006 as a microblogging network. In October 2022 [Elon Musk](/wiki/elon-musk) completed his acquisition of Twitter, took the company private, and began restructuring product and staffing. He rebranded the service to **X**, recovered the historic **X.com** domain (the name of his late-1990s finance startup that merged into [PayPal](/wiki/paypal)), and repeatedly framed the goal as an everything app spanning social, messaging, commerce and money.

Payments moved from tip/creator experiments to a full money product: after an invite-only beta, **X Money** began rolling out in 2026 to U.S. Premium and Premium+ subscribers—the clearest step yet from social network to consumer finance platform.

## Founders and ownership

Twitter was founded in 2006 by **[Jack Dorsey](/wiki/jack-dorsey)**, **Noah Glass**, **Biz Stone** and **Evan Williams**. Dorsey was the early public face and later returned as CEO; Williams (Blogger/Odeo) and Stone shaped the publishing product; Glass contributed to the earliest Odeo-era prototype.

In 2022 **[Elon Musk](/wiki/elon-musk)** acquired Twitter and became X's owner and controlling executive. His fintech relevance on this wiki is the closed loop from founding X.com → PayPal, buying Twitter, renaming it X, and launching X Money as the payments layer of that brand.

## X Money

**X Money** is X's consumer finance product embedded in the social app. After beta testing, it rolled out more widely to U.S. X Premium and Premium+ users in July 2026. Reported features include fee-free peer-to-peer transfers on X, a deposit/cash balance with advertised high APY for eligible Premium tiers (including boosted rates tied to direct deposit), early direct deposit, cash back on card spend, and an **X Visa** debit card (physical and Apple Wallet) with ATM and everyday spend use.

Deposits have been described as held via a [partner-bank](/wiki/partner-bank) / sweep arrangement (including Cross River Bank reporting) rather than X holding a full national bank charter—the classic U.S. front-end [neobank](/wiki/neobank) pattern also used by apps such as [Cash App](/wiki/cash-app) and [Chime](/wiki/chime). Money-transmitter licensing has been statewide and incomplete at launch (coverage reported in dozens of states, with holdouts such as New York and Massachusetts in early rollout coverage). Availability, rates and insurance details remain product- and jurisdiction-dependent.

## Products

Core products remain the social feed and Premium subscriptions. Fintech products include creator payouts/tips and **X Money** (balances, P2P, debit card). Financial features and licences change frequently and are secondary to the social network outside markets where X Money is live.

## Infobox

- **Type**: Private (X Corp)
- **Founded**: 2006 (as Twitter)
- **Rebranded**: 2022 (X)
- **Original founders**: Jack Dorsey, Noah Glass, Biz Stone, Evan Williams
- **Owner**: Elon Musk
- **Fintech product**: X Money (U.S.)
- **Model**: Partner-bank / payments in-app
- **Headquarters**: San Francisco, U.S.

## Frequently asked questions

### What is X?

X is the social platform formerly known as Twitter; under Elon Musk it launched X Money, a U.S.

### When was X founded?

X was founded in 2006 (as Twitter).

### Where is X headquartered?

X is headquartered in San Francisco, U.S..

### What type of company is X?

X is described as Partner-bank / payments in-app in its neobank.wiki profile.


## References

[^x1]: X Money is a consumer payments and banking-adjacent product inside X; it is not itself a chartered bank. Coverage reflects 2026 U.S. Premium rollout reporting. — https://techcrunch.com/2026/07/28/elon-musks-x-money-app-is-rolling-out-in-the-u-s/