Crypto-friendly bank Cross River to provide P2P payments and banking services for X Money

On July 28, according to Cointelegraph, Cross River, a crypto-friendly Banking-as-a-Service provider, 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 to 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 transmitter licenses in over 40 US states and is registered with FinCEN to support the platform's peer-to-peer payments. The announcement did not mention cryptocurrency or stablecoin support.