Cryptocurrency researcher Trench Diver has shared new insights regarding the X Money payment system owned by X platform. The article discusses key features and future updates.
X Money Card
Trench Diver reported that the platform is preparing to launch a physical banking card called 'X Money Card'. Users will earn 1% cashback when using the card, available for online shopping even before delivery. Additionally, bill payment options will be included.
No Cryptocurrency Support
The researcher noted that there was no mention of direct cryptocurrency payments within the system, although there is a possibility that this feature may be added in the future.
Key Features of the System
According to Trench Diver, the service allows users to send and request money from other X users. Payment methods include ACH, AFT, OCT, and wire transfer. Selfie and KYC verification are required to use the system. Bill payments are also available. Funds will be held in the name of X Money LLC at FDIC insured Cross River Bank.
The X Money payment system from platform X represents an intriguing innovation with promising features. However, users should be aware of the current limitations and unavailability of certain functionalities.
