SAN FRANCISCO : The new service, available exclusively to subscribers of the paid X Premium service in the US, includes a Visa debit card and offers interest rates of up to 6 percent.

The free product enables eligible users to hold funds in interest-bearing accounts, with the accounts technically provided through Cross River Bank, a financial technology services provider that works with digital finance companies.

The service also allows users to make instant and free payments to other X users with deposit accounts on the platform, expanding X’s financial services capabilities beyond its social media functions.

The move is part of X’s broader strategy to develop a comprehensive platform offering a range of services, including financial tools and digital payments.

Other major social media platforms, including Facebook, Snapchat and TikTok, typically rely on external payment providers such as PayPal and Hyperwallet, or users’ traditional bank accounts, rather than offering comparable integrated financial services directly.

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