X transitions creator payouts from Stripe to X Money

Elon Musk confirmed late Friday that X Corp will migrate all U.S.-based creator payouts from Stripe to X Money, the payments service launched under X’s financial services arm in early 2024. According to internal memos reviewed by OpenPress Tech Intelligence, the transition will begin on June 15 and complete by July 1, affecting an estimated 250,000 active U.S. creators who previously relied on Stripe Connect for payouts. Musk stated in a company-wide email that the shift is designed to reduce “transaction friction, platform leakage, and third-party dependency,” with an expected 40% reduction in per-transaction fees. The move comes just weeks after Stripe announced new pricing tiers that increased costs for platforms processing over $10 million in payout volume monthly, directly impacting X’s high-volume creator economy.