Elon Musk’s social media platform X is preparing to launch investment and trading features soon, as reported by the Financial Times (FT). This move is part of Musk’s vision to transform X into a comprehensive “everything app” that integrates social media, financial services, and commerce in one platform. According to Linda Yaccarino, X CEO, users will be able to buy and sell stocks, ETFs, and potentially cryptocurrencies directly within the app, alongside peer-to-peer payments and tipping options.
What new trading features can you expect?
Users will soon be able to buy and sell assets directly within the app, as trading and investing features are set to launch. While the exact asset classes are not fully disclosed, the platform aims to compete with existing trading apps like Robinhood and Coinbase, potentially including stocks, ETFs, and cryptocurrencies.
Additionally, the X Money Digital Wallet, launched in partnership with Visa, will debut in the U.S., allowing users to send money, store value, and make purchases, thus creating a seamless financial ecosystem within X.
Plans are also underway to introduce an X-branded credit or debit card by the end of 2025, further expanding the platform’s financial services. Beyond investing and trading, X aims to enable users to pay for everyday items, tip creators, and access pay-per-view content, thereby building a comprehensive commerce ecosystem.
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Will Dogecoin and other cryptos be supported?
Elon Musk has long been associated with cryptocurrencies, particularly Dogecoin (DOGE), which he has publicly supported and promoted over the years. His electric car company, Tesla, holds a significant position in Bitcoin (BTC), with approximately 11,500 BTC valued at about $1.2 billion.
Given Musk’s affinity for Dogecoin and the tech-savvy user base of X, many crypto enthusiasts anticipate that the platform’s new financial features will include cryptocurrency trading and payments, potentially supporting DOGE, BTC, and Ethereum (ETH).
While official details on crypto support remain scarce, the integration of crypto assets would align with user expectations and Musk’s established interests.
How will trading be integrated into the X experience?
Trading and investing will be seamlessly embedded within the familiar X interface, allowing users to transact without leaving the app.
While the specifics of asset availability are still pending, initial offerings may include stocks, ETFs, and possibly cryptocurrencies.
To protect users and ensure legal operation, X will need to implement robust security measures and comply with financial regulations.
Aiming to compete with established trading platforms, X seeks to offer a unique blend of social media and financial services, potentially leveraging social features like creator tipping and pay-per-view. The platform’s integration of payments, wallet services, and trading aims to create a comprehensive financial hub.
