X is planning to launch a slew of products in 2025 and X Money will be one of them. It was expected to be launched in 2024 but got delayed and one of the reasons behind is inability to get money transmitter license in New York.
Till now transmitter license has been given for 38 US states but it had to be withdrawn for New York last year as legal filing was made in opposition to its payment push which was questioning the character and fitness of X for holding such authority.
One of the main troubles with regards to filing is that Saudi Crown Prince Mohammed bin Salman is one of the investors in X. As per new findings, X Money will still be launched in selected states in U.S. As of now, X is looking out for regional roll out till the time they are working to address the concerns pertaining to non-approving regions.
Launching X Money in selected states would get the ball rolling on the project faster even though limited availability would restrict usage significantly. This is happening even before X is considering international launch where Elon Musk divisive political stance is looking to pose a significant challenge for approval of payment license.
