X Begins Providing Banking Services

The "X" platform has launched an exclusive banking service for its US subscribers, allowing them to open bank accounts that offer interest rates up to 6%. The service includes a Visa debit card, free direct money transfers between users, and no fees. The accounts are managed through "Cross River" Bank, which is regulated and insured, with deposits protected up to $250,000 and coverage up to $10 million through a network of partner banks. This move is considered a first for an American social media platform, aiming to transform the platform into a "comprehensive app for everything."

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