Elon Musk, the renowned entrepreneur and owner of X Corp., has announced the imminent launch of the new payment service X Money. This service will be part of a global update of the X platform (formerly Twitter), which Musk is transforming into a multifunctional super app.
This is reported by Business • Media
Major Update of the X Ecosystem and the Introduction of XChat
Alongside the launch of X Money, Musk introduced a comprehensive update to X’s communication infrastructure. The platform has received a completely new communication stack, including encrypted messaging, support for audio and video calls, and file transfer capabilities. A new messenger, XChat, has been launched within the X ecosystem, combining regular and secure chats in a single interface. According to Musk:
“X has just released a completely new communication stack with encrypted messaging, audio/video calls, and file transfer. […] X will be the app for everything.”
Musk also invited developers to join the X team to contribute to the development of new innovative products for users.
Development of X: New Features and Billion-Dollar Valuations
Entrepreneur Mario Naufal noted that X has made the largest update to its messaging system in the platform’s history. He emphasized that the new XChat provides a unified inbox for all types of chats, simplifying service usage and enhancing communication security.
In early June 2025, Musk presented XChat, which supports file sharing, group chats, disappearing messages, and end-to-end encryption for messages, media, and calls. Musk himself referred to this as “Bitcoin-style encryption.”
Mario Naufal predicts further development of the platform, including the implementation of device synchronization and the integration of new features in the future super app. He stressed:
“X has modernized messaging once again.”
In March, Musk transferred the rights to the X social network to his artificial intelligence startup xAI. The deal was valued at $80 billion for xAI and $33 billion for X (including $12 billion in debt obligations).
In October 2025, Musk’s fortune exceeded $500 billion for the first time in history, thanks to the rise in Tesla’s market capitalization, as well as his stakes in SpaceX and xAI.
At the end of October, the entrepreneur launched Grokipedia — an open online encyclopedia positioned as an independent alternative to Wikipedia. Users can edit the platform’s content, but the final decision is made by the Grok artificial intelligence. According to Musk, the goal of Grokipedia is “the whole truth and nothing but the truth.”