X Money Account Opening Process Revealed: Currently Only Requires Name, Residential Address, etc., Security Verification Relies on Facial Recognition or PIN Code

Odaily News: Crypto KOL AB Kuai.Dong disclosed the account opening process for X Money. Currently, users only need to input their name, Social Security Number (similar to an ID card number), and residential address to successfully open an account. Security verification relies on Apple's facial recognition or a PIN code to complete, and the entire process can be finished in less than 1 minute.

It is reported that besides virtual debit cards, the X Money feature will also include physical savings cards. These can be used for cash withdrawals at ATMs and daily card-based spending. The single transaction limit for bank transfers is $1 million, and the withdrawal limit is $100,000.