X to Launch In-App Stock and Crypto Trading Soon
X’s forthcoming Smart Cashtags functionality on its social media platform is set to empower users with the ability to execute trades for stocks and cryptocurrencies right inside the app, as revealed by Nikita Bier, the platform’s head of product.
In a recent statement shared on Saturday via an X post, Bier outlined, “We are rolling out several new capabilities over the next couple of weeks, among them Smart Cashtags, which will let you buy and sell stocks and cryptocurrencies seamlessly from your timeline.”
Back in January, Bier had first disclosed plans for the Smart Cashtags deployment, hinting at potential in-app trading through an illustrative image in his announcement, though no formal endorsement was provided at that time.
Earlier in 2022, the X platform had debuted a rudimentary Cashtag mechanism designed to monitor price movements of prominent stocks and digital currencies. This system delivered graphical financial insights for various assets, such as Bitcoin and Ether. However, the initial version was eventually phased out.
Efforts by Cointelegraph to obtain comments from X regarding this anticipated update went unanswered prior to the article’s release.
Renowned as a vibrant center for cryptocurrency discussions and engagements, X’s move toward embedded trading functionalities propels it nearer to fulfilling Elon Musk’s vision of evolving into a comprehensive “everything app,” akin to China’s multifaceted WeChat, which seamlessly blends messaging, social networking, and payment services into one ecosystem.
X Advances Toward Full Payments Integration as Part of ‘Everything App’ Ambition
On Wednesday, Elon Musk shared fresh insights into the rollout schedule for X Money, the platform’s dedicated payments system that will facilitate peer-to-peer money transfers, much like popular services such as Venmo or Cash App.
During an “All Hands” presentation hosted by his artificial intelligence venture, xAI, Musk explained that X Money remains in an exclusive beta testing period expected to span the upcoming one to two months, paving the way for a global launch once evaluations wrap up.
He emphasized the grand aspiration behind it, stating, “This is designed to serve as the ultimate hub for all financial activities—the primary conduit for every monetary exchange.”
Musk highlighted that X boasts approximately 600 million monthly active users on average. He further elaborated on the platform’s overarching objective: “Our aim is to create an environment where users can manage their entire lives through the X app if they so choose.”
This strategic push into trading and payments underscores X’s transformation under Musk’s leadership, positioning it as a versatile super-app that could redefine digital interactions by consolidating social, financial, and informational services into a single, user-centric interface. The integration of Smart Cashtags not only enhances real-time market engagement but also aligns with broader efforts to streamline financial operations within the social feed, potentially revolutionizing how users interact with investments amid daily scrolling.
