Elon Musk’s X Platform Sets Sights on Becoming a Super App with Trading Features

X Platform Expands Financial Services

Users of the X platform will soon have the ability to engage in trading and investing directly within the app. This development aligns with Elon Musk’s vision to transform X into an all-encompassing super app akin to WeChat, aiming to redefine how social media operates today.

Strategic Expansion into Financial Services

The initiative is part of Musk’s broader strategy to elevate X to the status of “The Everything App,” as he envisioned following his acquisition of the platform in 2022. As competition to launch the first true super app intensifies, major players like Apple and Google are reportedly exploring the integration of stablecoins into their future offerings.

A recent report from the Financial Times highlights Musk’s ambition to create a WeChat-like structure for X, pushing beyond traditional social media functionalities. The platform is gearing up to introduce new investing and trading capabilities under the X Money brand, a service linked with a partnership established with Visa earlier this year. Initially, these features will be rolled out to users in the United States.

Overview of Financial Options and Functionality

While specific asset classes targeted by these new features have yet to be disclosed, the X platform currently facilitates a range of financial services through its collaboration with Visa. The X Money wallet allows immediate transactions between bank accounts and digital wallets within the app, promoting a seamless financial experience.

In addition, the platform supports features such as tipping creators via Bitcoin’s Lightning Network and provides real-time cryptocurrency price updates through the use of $Cashtags.