X's Investing Push: Musk's 'Everything App' Vision
X to Launch Investment and Trading Features
X, formerly known as Twitter, is poised to integrate investment and trading capabilities, aligning with Elon Musk’s vision to transform the platform into an all-encompassing "everything app." This was confirmed by X CEO Linda Yaccarino in a recent Financial Times interview.
Key Developments
- Investment and Trading Services: X will soon offer users the ability to invest and trade directly within the app.
- X Money Wallet: A partnership with Visa is underway to launch X Money, a peer-to-peer digital wallet. This wallet will allow users to link debit cards, initially focusing on a secure US rollout before international expansion.
- Expanded Functionality: X Money will allow users to store value, buy goods, and tip creators. Future plans include an X-branded credit or debit card.
According to Yaccarino, X aims to create a unified ecosystem that integrates social networking with a complete suite of financial tools. This includes functionalities as simple as paying for a pizza, to the more complex world of investing and trading, all within a single app.
This expansion builds on X's recent partnership with Polymarket for prediction markets, further diversifying the platform’s offerings.
Since Musk’s acquisition of the platform in 2022, X has undergone significant changes, becoming a central hub for news, discussions, and real-time updates. The addition of financial services represents a major step in realizing Musk's "everything app" ambition.
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