Cross River Bank will power XMoney, part of the Elon Musk social media platform X.
X has long held Fintech ambitions, aiming to become an “everything App.” X has emerged as the world’s community forum, offering global news and perspectives unfettered by opinion, where all sides may participate in the conversation.
X has a whopping 550 million monthly active users (MAU) as of March 2026. Daily active users are estimated at around 200 to 250 million users.
As for premium users of X, there are approximately 4.4 million users, with around 2 million additional users who are paid Grok (AI) subscribers.
Grok is integrated into X, providing the ability to quickly fact-check posts and expand upon user statements.
Gilles Gade, Cross River CEO, stated on X:
“We’re very proud and honored to roll out the very first social media FDIC-insured banking platform in partnership with X. When fully available, Xmoney will deliver to hundreds of millions of X users intuitive and elegant payments and account functionalities with the full consumer protection and trust of a regulated entity. This is a game changer for consumers and the market at large from a technological, banking, and lifestyle perspective. Much more to come in the coming weeks!”
XMoney posted today:
“Your money, on the world’s most powerful network. X Money is rolling out to U.S. Premium and Premium+ subscribers starting today.”
The highlighted services include:
- Free, instant transfers on X
- Up to 6.00% APY
- 3% cashback on eligible purchases with the X Card
- Early direct deposit — up to two days before your normal payday
- Wires, checks, and free ATM withdrawals
- Fast, dedicated support
FDIC insurance is said to be up to $10 million through X’s Cash Sweep Program.
Cross River explains that X will become the first social media platform in the US with FDIC-insured interest-bearing accounts, a Visa debit card, and the ability to make payments and transfers.
Cross River is a leading Fintech provider of digital financial services with a regulated banking core platform.
Cross River also supports crypto, but it is not yet known whether X will involve digital assets from the outset. Last month, Cross River announced a partnership with Figure to purchase crypto-backed loans.
In March, Cross River raised $50 million in equity capital to support its strategy of “embedded finance 2.0” that bundles crypto, lending, payments, cards and AI on a single platform.
Cross River described the collaboration as a new standard for money movement, combining compliance, speed, and scale.
Cross River works with many well-established firms like Upgrade, Upstart, Trustly, Stripe, Plaid, DailyPay, Coinbase, Checkout, Bill.com, Best Egg, and Affirm. In 2025, Cross River facilitated nearly $1.5 billion in loans.
As XMoney will be available first to premium users, you can expect subscriber numbers to grow rapidly in the coming months.