Elon Musk’s X is planning to wear a new look by launching investment and trading tools soon, serving users with better financial services. In an interview with a media firm, X CEO Linda Yaccarino said that the 600 million users on X will be able to “transact their whole life on the platform”, starting from sending money to managing investments.
Yaccarino added: “You’ll be able to come to X and be able to transact your whole financial life on the platform”. And that’s whether I can pay you for the pizza that we shared last night, or make an investment, or a trade. So that’s the future.”
The new move is reportedly a part of Musk’s vision to transform the social media platform into an ‘everything app’ like China’s WeChat, where users can tweet, tip, pay, save, and soon invest, according to a post by a crypto educational platform. The new changes also mark Elon Musk’s plan to turn X into a ‘super app’.
What will the new X offer?
The new digital facelift will introduce key features to the app, including stock trading, an X-branded credit card, X Money for P2P payments and digital wallet, and banking licenses. The social media platform has already signaled that Bitcoin will be the first asset to be traded when the new features go live, wrote the educational platform.
Musk confirmed X Money beta testing
Last month, Elon Musk had already confirmed the X Money beta testing, and the platform executives have been seriously working to obtain multiple transmitter licenses across the US. X Money is an e-wallet service integrated within the X platform. With this tool, users can store money, make payments, and transfer funds on the platform.
Worth noting, neither Musk nor any X executives have publicly announced that the platform will integrate crypto into upcoming financial service features. However, several media outlets and the crypto community are on the hype of a discussion that crypto will likely be added to the platform’s financial ecosystem.
