Crypto-friendly bank Cross River will provide P2P payment and banking services for X Money

According to Cointelegraph, crypto-friendly bank-as-a-service provider Cross River will provide banking infrastructure for X Money, supporting peer-to-peer payments, FDIC-insured interest-bearing accounts, and Visa debit card services. Cross River's banking platform and payment channels will support X's "super app" strategy and are designed to scale with more financial products over time. X Money will enter limited testing in May 2025 and expand to external testing in March 2026. X has obtained money transfer licenses in over 40 states in the U.S. and is registered with FinCEN to support platform peer-to-peer payments. The announcement did not mention support for cryptocurrencies or stablecoins.