Speculation is swirling in the XRP community over a potential link between Elon Musk's X Money app and Ripple's XRP infrastructure. The buzz started when popular analyst BankXRP posted on X that Cross River Bank, the custody partner behind X Money App Beta, has been integrated with Ripple's protocol since September 2014 for real-time payments. This historical tie has revived questions about whether Musk's financial platform might eventually adopt XRP.
X Money App Beta: Direct Deposit, X Card, and 6% APY
The beta rollout marks a major push beyond social networking into full financial services. According to BankXRP, the app now supports direct deposit, allowing users to receive salaries and other payments directly into their accounts. It also introduces a physical and virtual all-black X card for online and in-store purchases. Cash balances held within the app earn 6% annual percentage yield (APY), while remaining accessible for everyday spending. Additionally, the X card offers cashback on qualifying purchases, and deposits are insured by the FDIC up to $250,000 per individual account via Cross River Bank.
Cross River Bank's Ripple Past Reemerges
Cross River Bank integrated Ripple's protocol in September 2014 to facilitate real-time cross-border payments between the U.S. and Western Europe. With the bank now serving as the regulated partner for X Money, the XRP community sees potential for a deeper integration. However, no public information about X Money App Beta confirms that Ripple technology currently powers its payment infrastructure. The connection remains speculative, fueled entirely by Cross River Bank's earlier history with Ripple.
While the beta app's features—direct deposit, high-yield balances, and a payment card—are themselves noteworthy, the Ripple angle has captured community attention. For now, the only certainty is that Cross River Bank brings both regulatory compliance and a legacy of blockchain-based payments to Musk's ambitious financial ecosystem.