Latest news with #XMoney
Arabian Post
a day ago
- Business
- Arabian Post
Musk Unveils XChat with Bitcoin-Inspired Encryption and Phone-Free Calls
Elon Musk has announced the rollout of XChat, a new messaging feature on the X platform, integrating end-to-end encryption, vanishing messages, and support for various file types. Developed in Rust, XChat also offers audio and video calling capabilities without requiring a phone number, marking a significant shift in the platform's communication tools. The introduction of XChat follows the discontinuation of X's previous encrypted direct messaging system, which had been available to paid subscribers for two years. The new system is gradually being made accessible to premium users, with broader availability expected in the coming weeks. Central to XChat's security is its 'Bitcoin-style' encryption, a term Musk uses to describe the platform's adoption of elliptic curve cryptography . This method, also employed in Bitcoin transactions, provides robust security with smaller key sizes, enhancing performance and reducing resource consumption. While specific details about the encryption implementation remain undisclosed, the approach suggests a focus on decentralized and secure communication. ADVERTISEMENT The choice of Rust as the programming language for XChat underscores a commitment to safety and performance. Rust's emphasis on memory safety helps mitigate vulnerabilities common in other languages, such as memory corruption, which has been a significant source of security issues in software development. XChat's features extend beyond encryption. Users can send messages that automatically disappear after a set period, enhancing privacy. The platform supports the transfer of various file types, catering to diverse communication needs. Notably, audio and video calls can be made without linking to a phone number, allowing for greater anonymity and flexibility across devices. This development aligns with Musk's broader vision of transforming X into a comprehensive 'everything app,' akin to China's WeChat. By integrating messaging, calling, and file-sharing functionalities, X aims to become a central hub for users' digital interactions. Plans are also underway to introduce X Money, a digital wallet service developed in partnership with Visa, enabling peer-to-peer payments and further expanding the platform's ecosystem. As XChat enters the competitive messaging landscape, it positions itself against established players like Signal and Telegram. While these platforms have long prioritized user privacy and security, XChat's integration into the broader X platform offers a unique proposition. However, experts advise caution, noting that XChat has yet to undergo independent security audits, a standard practice for verifying the robustness of encryption protocols. The move towards enhanced privacy features reflects a growing demand among users for secure communication channels. With increasing concerns over data breaches and surveillance, platforms that prioritize user confidentiality are gaining traction. XChat's emphasis on encryption and user control over messages indicates an awareness of these concerns and a response to the evolving digital landscape.
Economic Times
3 days ago
- Business
- Economic Times
ETtech Explainer: What is XChat, the new DM feature coming to X
Elon Musk-owned social media platform X has been rolling out a new direct message (DM) feature to its beta users. The new DM interface will be a robust replacement for X's existing messaging feature. With XChat in the works, X has stopped encrypting the present DM feature, as it would be redundant with the new rollout. XChat availabilitySeveral beta testers who have paid for X's subscription product have been able to access XChat. Independent researcher Nima Owji confirmed that the feature is working and has several modern features. Earlier, X users with a paid subscription were able to use a limited version of encrypted messaging for two years. What XChat offers According to Owji, XChat will support advanced group chats and a vanishing mode, to automatically delete messages after a set time period. The new DM feature will also offer Signal-like encryption, something Musk has been vying for since his takeover of the social media platform. Messages seem to be secured behind a four-digit passcode. There's more Musk has shared plans in the past to develop X, formerly known as Twitter, in an 'everything app'. To this end, the platform has been working on X Money, a digital transaction platform built into X. Visa has stepped in to power the digital wallet, which is slated to launch later in 2025.
Time of India
3 days ago
- Business
- Time of India
ETtech Explainer: What is XChat, the new DM feature coming to X
Elon Musk-owned social media platform X has been rolling out a new direct message (DM) feature to its beta users. The new DM interface will be a robust replacement for X's existing messaging feature. With XChat in the works, X has stopped encrypting the present DM feature, as it would be redundant with the new rollout. XChat availability by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trading CFD dengan Teknologi dan Kecepatan Lebih Baik IC Markets Mendaftar Undo Several beta testers who have paid for X's subscription product have been able to access XChat. Independent researcher Nima Owji confirmed that the feature is working and has several modern features. Earlier, X users with a paid subscription were able to use a limited version of encrypted messaging for two years. What XChat offers Live Events According to Owji, XChat will support advanced group chats and a vanishing mode, to automatically delete messages after a set time period. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories — nima_owji (@nima_owji) The new DM feature will also offer Signal-like encryption, something Musk has been vying for since his takeover of the social media platform. Messages seem to be secured behind a four-digit passcode. There's more Musk has shared plans in the past to develop X, formerly known as Twitter, in an 'everything app'. To this end, the platform has been working on X Money , a digital transaction platform built into X. Visa has stepped in to power the digital wallet, which is slated to launch later in 2025. — f3cooper (@f3cooper)
Hans India
6 days ago
- Business
- Hans India
X Money: Elon Musk's Digital Payment Platform to Launch in Beta Soon
Elon Musk's vision of transforming X (formerly Twitter) into an all-encompassing digital platform is one step closer to reality. The billionaire entrepreneur recently confirmed that X Money, a new digital payment feature, is nearing its beta rollout phase. This development aligns with Musk's larger ambition to evolve X into a multifunctional "everything app" that combines social media, messaging, and now, financial services. 🚨BREAKING: Confirmed by Elon — X is launching X Money soon 💸📲Payments. Banking. The everything app just got even bigger. — Tesla Owners Silicon Valley (@teslaownersSV) May 25, 2025 In a recent post on X, Musk shared that the service is almost ready for limited beta testing. While the exact release date hasn't been officially announced, the infrastructure powering the payment system is reportedly in its final stages of development. As the beta phase is expected to launch with limited access, only a select number of users will get early hands-on experience with the platform. X Money: A Key Component of the 'Everything App' Vision X Money is designed to enable users to send and receive funds directly through the app, turning X into more than just a space for tweets and threads. Musk's aim is to integrate commerce and financial features within the platform, making it similar to how apps like WeChat and WhatsApp have expanded into financial services. This will be a very limited access beta at first. When people's saving are involved, extreme care must be taken. — Elon Musk (@elonmusk) May 25, 2025 Though comprehensive details remain under wraps, Musk's recent statements indicate that the service will be rolled out with extreme caution. Responding to a post by @teslaownerssv, which mentioned that X Money will soon introduce payments and banking services, Musk replied, 'When people's savings are involved, extreme care must be taken.' His statement highlights the company's emphasis on user safety and regulatory compliance during the early stages. Support for Crypto and Collaborations on the Horizon According to several reports, X Money will likely support cryptocurrency transactions, with Bitcoin expected to be a key element in the payments ecosystem. Additionally, Musk is reportedly in talks with financial services giant Visa to enhance transaction capabilities, suggesting a hybrid model of traditional banking and modern digital finance. The official X Money handle confirmed that a public launch is scheduled for 2025, following extensive beta testing and regulatory clearance. Musk is said to be pursuing approval in all 50 U.S. states before a full-scale rollout, ensuring that the platform complies with legal requirements and financial oversight across the country. More Than Just a Payment System Musk has been reshaping X since acquiring it in October 2022. Changes have included a subscription-based verification model and new monetization options for content creators. The addition of a native payment system could dramatically transform how users engage with the app, potentially allowing them to shop, donate, or tip content creators, all without leaving the platform. In a recent post on X, Musk shared, 'Back to spending 24/7 at work and sleeping in conference/server/factory rooms,' reflecting his hands-on approach and commitment to the company's future. He also noted his current focus on multiple high-stakes projects, including xAI, Tesla, Starship, and now, X Money, hinting at a brief pause from his political engagements. With features like banking, crypto support, and peer-to-peer transactions, X Money represents a major leap in Musk's plan to reinvent social media—and possibly the way we manage our money online.
India Today
6 days ago
- Business
- India Today
Money is coming to Elon Musk's X and here is everything we know about it
Elon Musk's X (formerly known as Twitter) is gearing up to launch its first-ever digital payment service, X Money, later this year. In a post, Musk confirmed that this service will be out in the best phase first, but with limited access. The service has been in the pipeline for several years, with Tesla and SpaceX chief Elon Musk dropping hints about its development since acquiring the platform. Although Musk has yet to confirm an official launch date, he recently revealed that X Money's underlying infrastructure is close to being ready for limited beta trials. These early tests will be a key step before the feature becomes available to the wider public. Here is everything we know about the upcoming advertisementX Money is coming soon: Here is everything we knowThe introduction of a native payments system forms a central part of Musk's broader ambition to evolve X into an 'everything app' — a multifunctional platform that goes beyond social media to encompass messaging, commerce, and financial services. With X Money, users are expected to gain access to a user-friendly way to send and receive funds directly within the app, aligning the platform more closely with popular apps, like WhatsApp. While full details about the service remain under wraps, the planned beta phase suggests development is progressing steadily, bringing Musk one step closer to his goal of turning X into a digital hub for everyday life. On Monday, a post by @teslaownerssv on X claimed that X Money would launch soon and introduce a suite of payments and banking features. advertisement In response, Musk cautioned that the initial release would be highly restricted, adding, 'When people's savings are involved, extreme care must be taken.' X Money is expected to support cryptocurrency payments, with Bitcoin being a key player in the rollout. According to reports, Musk is also collaborating with financial services giant Visa to enable seamless transactions through the upcoming platform. The official X handle for the payments service confirms that a public launch is scheduled for 2025. Since acquiring the platform in October 2022, Musk has introduced several changes, including a subscription-based verification system and increased monetisation options for content creators. Several reports have highlighted that Musk aims to secure approval across all 50 US states before the full-scale launch of X Money early next year. If successful, the service could significantly alter how users interact on the platform, potentially allowing them to send, receive, and manage funds without leaving the commitment to the project appears to be intense. In a recent post on X, he wrote, 'Back to spending 24/7 at work and sleeping in conference/server/factory rooms,' underscoring the demands of his current workload. He also mentioned the need to focus on several high-priority ventures, including X, xAI, Tesla, and an upcoming Starship launch, indicating a temporary retreat from his political payments, banking, and crypto integration on the horizon, X Money could mark a pivotal shift in Musk's ambition to reimagine the social platform as a central hub for communication, finance, and digital services.
