X implements banking services under Musk's platform vision
X Platform has launched a new service that allows users, exclusively for "X Premium" subscribers in the United States, to open bank accounts offering interest rates of up to 6%, along with the ability to make instant, free payments between users on the platform. The service relies on accounts hosted through Cross River Bank, which provides deposit insurance guarantees of up to $250,000 per customer and deposit limits of up to $10 million for each user, thanks to a network of multiple banks. This move is part of Elon Musk's strategic plan to transform X into a comprehensive service platform that includes a broader range of financial services.
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