🔺 r/BankinguFun-Section-6179·23 days ago
Why is everyone afraid of X Money’s 6% because it’s a fintech (like Yotta) and not a bank, when PayPal, Venmo, Cash App, Apple Cash are all the same.
It seems like everyone is cautious and against X Money - even with the 6% rate. People point to fintech Yotta’s disaster as a reason to stay away. Yotta used a third party ledger middleman. X Money doesn’t - just like Apple Cash, PayPal, Venmo, and Chime. Is the hate more about distrust of Elon Musk? submitted by /u/Fun-Section-6179 to r/Banking [link] [comments]