Cross River Bank Will Power X Money's FDIC-Insured Accounts and Visa Debit Card
Finovate·medium signal
Cross River Bank announced on July 27 that it is the bank partner behind X Money, embedding FDIC-insured interest-bearing accounts, a Visa debit card, and payment rails directly into X. The product had rolled out to Premium+ subscribers starting June 25 with 6% yield on fiat deposits, 3% cashback, P2P transfers, and FDIC insurance structured to cover up to $10 million for top-tier subscribers. Naming the regulated partner is the disclosure that matters — it clarifies who actually holds deposits and bears compliance obligations for the 'everything app' financial layer.