• X will soon allow users to make payments, investments, and trades directly on the platform, according to Chief Executive Linda Yaccarino.
• The move supports Elon Musk’s vision to turn X into a super app, blending social media with financial services.
• X plans to launch a digital wallet called X Money in partnership with Visa, starting in the US later this year.

Investments on X

What happened? The chief executive of X , Linda Yaccarino, said that users will soon be able to make investments or trades on the social media platform. 

In an interview with the Financial Times, Yaccarino shared that soon X users will be able to pay each other or make an investment or a trade. Additionally, she stated that the company is also exploring the introduction of an X credit or debit card.

Why does this matter? This comes as Elon Musk aims to make X into an ‘everything app.’ Recently, he announced X’s new encrypted chat feature, XChat, in an attempt to rival Meta and become a super app. 

This supports Musk’s vision for X to become a super app like China’s WeChat combining chatting, digital banking, and more. This new introduction is part of the strategy to expand X beyond just a social media platform.

X Money

What is next? The chief executive announced that X will be introducing X Money later this year. It will be a digital wallet and peer-to-peer payment service with its first partner being Visa. The service will first be rolled out in the US and later everywhere. Furthermore, this service will allow users to buy merchandise, store value or tip creators on the platform.

Bottom line: The introduction of payments, trading, and digital wallets reflects X’s broader push to expand its services. How these features will be integrated and adopted remains to be seen.