X launches X Money beta with William Shatner auctioning invites for charity

X, the social media platform formerly known as Twitter, has started offering limited beta access to its new payments service, X Money. Instead of distributing invites traditionally, X owner Elon Musk partnered with actor William Shatner to auction off 42 beta invites. Participants could obtain an invite by donating $1,000 to Shatner’s charity supporting children and veterans. The auction was conducted through Shatner’s posts on X, and Musk reposted highlights to his own feed. Winners will have early access to the X Money interface, which includes tabs for Account, Rewards, and Activity, with features like sending and requesting money, deposits, and direct deposit options offering up to 6% APY. Funds are held by Cross River Bank and insured up to $250,000 per individual. X Money is part of Musk’s vision to expand X into an “everything app,” alongside X Chat, video, subscriptions, and other services. The service is licensed in over 40 U.S. states and will begin a limited external beta before eventually opening worldwide. The beta also includes a personalized metal X Money debit card issued via Visa. This approach highlights X’s push into fintech and payments, following Musk’s longstanding interest in online financial services dating back to X.com in 1999, which eventually became PayPal.