Elon Musk, founder of X Corp., has officially announced the upcoming launch of the new payment service X Money, which will become an integral part of the X ecosystem (formerly known as Twitter). The implementation of this service comes amid a major platform overhaul aimed at transforming X into a multifunctional super app.
This is reported by Finway
Major Update of XChat and Launch of X Money
Musk emphasized that the latest updates include a completely new communication stack that provides encrypted messaging, audio and video calls, as well as file sharing. According to him, these technological changes are intended to turn X into a universal app for users’ daily needs.
“X has just released a completely new communication stack with encrypted messaging, audio/video calls, and file sharing. […] X will become the app for everything.”
The entrepreneur also invited developers to join the team to create innovative products within the X ecosystem.
Updated Messaging System and Security
Noted entrepreneur and commentator Mario Naufal reported that X has conducted the largest update of its messaging system in the platform’s history. According to him, XChat now offers a unified inbox that combines classic and fully encrypted chats, simplifying user experience:
“No more scattered menus. No more searching for the ‘encrypted’ tab. Everything is in one clear channel.”
XChat supports end-to-end encryption (E2E) for messages, media, files, and audio/video calls, and Musk refers to this level of protection as “Bitcoin-style encryption.” Naufal also predicts further development of the service, including the implementation of cross-device synchronization and integration with new features of the super app.
Earlier, in early June 2025, Musk presented XChat as a messaging service with enhanced capabilities — file sharing, disappearing messages, group chats, and other innovations.
In March of this year, Musk transferred the rights to the social network X to his AI development startup xAI, which was valued at $80 billion, while X was valued at $33 billion, including debt. In October, Musk became the first person in history to have a net worth exceeding $500 billion, made possible by the rise in Tesla’s stock value, as well as his stakes in SpaceX and xAI.
Additionally, at the end of October, the entrepreneur introduced Grokipedia — an open-source encyclopedia positioned as an independent alternative to Wikipedia. The main content editing here is done using the AI model Grok, and Musk stated that the primary goal of the platform is to strive for maximum truthfulness.