X Money began rolling out to US Premium and Premium+ subscribers on Monday. The financial platform offers an annual percentage yield of up to 6 percent, instant peer-to-peer transfers, 3 percent cashback on eligible purchases, and a Visa debit card. Individual deposits are insured by the FDIC for up to 250,000 dollars per depositor, and a cash sweep program extends aggregate coverage to 10 million dollars. Cross River Bank provides the regulated banking infrastructure powering payments, deposit accounts, and compliance services on the platform.
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