Elon Musk's X Money launches external testing: 6% deposit yield revealed, Star Trek actor William Shatner participates

March 5 News: Elon Musk is advancing the testing process of his payment product, X Money. This week, the app began limited external testing. Several early screenshots show that some users can now experience cashback and deposit earnings features, with annualized deposit yields reaching up to 6%.

One of the users participating in the test is actor William Shatner, who played Captain Kirk in the classic sci-fi series “Star Trek.” Screenshots posted by Shatner on social media show that users can earn cashback when using specific credit cards, and their account funds can also generate deposit interest.

According to the screenshots, deposits in X Money are held by Cross River Bank, a member of the Federal Deposit Insurance Corporation (FDIC), with coverage up to $250,000. This design indicates that the payment system will adopt a fund security structure similar to traditional financial institutions.

Previously, on February 11, Musk revealed that X Money would undergo external testing before its official global launch. In fact, the product has been in closed testing since May 2025. Currently, the testing scope remains limited, but product features are gradually being disclosed.

X Money is a key part of Musk’s plan to transform the X platform, aiming to develop it into a “super app” that integrates social networking, payments, content creation, and AI services. According to Musk’s vision, the platform will eventually combine payment systems, private messaging, Grok AI assistant, and identity verification.

Meanwhile, Shatner is also collaborating with the X platform to expand the testing invitation scale. Previously, he auctioned 42 testing invites at $1,000 each, with proceeds going to charity. A second round of testing invites was later opened, with a total of 166 slots auctioned at the same price.

According to the rules, test users must be at least 18 years old, reside in the U.S., and have an active X account. Participants may also receive a metal debit card issued in partnership with Visa, featuring their X username on the card.

Although there has been speculation that X Money might integrate cryptocurrencies like Dogecoin, the official has not announced any crypto payment features. The platform has yet to provide a clear timeline for supporting cryptocurrencies.