EX Launches Banking with 6% Visa Benefit

Elon Musk's platform, X, has launched a new service that allows subscribers of "X Premium" in the United States to open bank accounts with interest rates of up to 6%. The accounts include a Visa debit card and a free instant payment feature between users. Through this move, Musk aims to turn the platform into an all-in-one app similar to Chinese apps like WeChat, enhancing its capabilities in financial services and communication. The accounts are managed by Cross River Bank, which is federally regulated and offers deposit insurance up to $250,000, with deposit guarantees reaching up to $10 million per user.

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