ChainCatcher report, according to Cointelegraph, Cross River, a crypto-friendly bank-as-a-service provider, will supply banking infrastructure to X Money, enabling peer-to-peer payments, FDIC-insured interest-bearing accounts, and Visa debit card services. Cross River’s banking platform and payment channels will support X’s “super app” strategy and are designed to scale over time to include additional financial products. X Money entered limited testing in May 2025 and expanded to external testing in March 2026. X has obtained money transmitter licenses in over 40 U.S. states and is registered with FinCEN to support peer-to-peer payments on the platform. The announcement did not mention support for cryptocurrency or stablecoins.
Cross River to Provide P2P Payments and Banking Services for X Money
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Summary
Cross River will enable X Money with P2P payments, FDIC-insured interest-bearing accounts, and Visa debit cards. The partnership supports X’s “super app” strategy and aligns with current interest rate trends. X Money will begin limited testing in May 2025 and expand in March 2026. The platform holds money transmitter licenses in over 40 U.S. states and is registered with FinCEN. Crypto news outlets such as ChainCatcher reported the development, which does not include crypto or stablecoin support.
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