Elon Musk's X Launches 6% Interest Money Transfer Service in the US

X, the social media platform owned by Elon Musk, has introduced a new financial service in the US. The service, called X Money, offers users money transfer, a Visa debit card, and interest-bearing accounts. Initially available only to paid subscribers, this feature provides up to 6% annual interest on deposit accounts. Additionally, users can earn 3% cashback on their purchases. This move is seen as part of X's strategy to transform its social media platform into a financial ecosystem. The service is expected to be made available to a broader user base in the future. This is not an investment advice.

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This news could positively impact the stocks of companies operating particularly in the technology and finance sectors. X's new service, seen as an alternative solution to traditional banking systems, may increase interest in fintech companies. This could also reflect positively on the stocks of technology and finance sector companies on Borsa Istanbul. Additionally, offering a low-interest money transfer service could be considered a cheaper and more accessible option for consumers and businesses.

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