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X platform introduces banking and investment services
X Platform has launched a new banking service that allows subscribers holding an "X Premium" subscription in the United States to open interest-bearing bank accounts with interest rates of up to 6%. They can also make instant, free payments between users directly through the platform. The service includes account hosting through Cross River Bank, which is FDIC-regulated, offering deposit protection up to $250,000 per customer. User deposits can reach up to $10 million across a network of multiple banks. X aims to transform the platform into a comprehensive app that includes banking services, as part of a broader strategy to provide instant payment options and develop technological features to strengthen its position as a social media platform and integrated financial services provider.
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