➤ X is rolling out XChat, an upgraded encrypted messaging service, and X Money, its fiat payment service developed with Visa and Cross River Bank, signaling progress towards an 'everything app' model.
➤ X Money will initially focus on traditional fiat peer-to-peer transfers and deposits, aiming to compete with services like Venmo, with a gradual rollout and a deliberate avoidance of crypto features to navigate regulatory hurdles.
➤ While crypto enthusiasts may find the near-term rollout less exciting due to the focus on fiat, investors should monitor regulatory risks, as they remain a significant factor for X Money's future growth, especially if crypto integration is considered later.