Musk’s X to offer investment and trading in ‘super app’: report

X, formerly Twitter, is looking to enhance its “super app” credentials with the rollout of in-app investment and trading features.

According to a report by the Financial Times, the social media platform, which has gained significant traction since Elon Musk acquired it in October 2022, is eyeing the new functionality as part of a broader plan to evolve into an all-in-one financial app.

Musk’s Tesla was among the first major companies to buy Bitcoin (BTC) and his crypto-related posts have included nods to some of the market’s top memecoins.

Musk’s plans for X

X has increasingly become a top platform for social engagement and news, with Musk among its most vocal advocates. In addition to cryptocurrencies, users have called for the integration of everyday solutions and services.

X chief executive officer Linda Yaccarino, who succeeded Musk as CEO in June 2023, shared fresh details about what the platform is planning.

She told the Financial Times in an interview that the goal is to bring all financial services to the public through a single app. It’s not just about the ability to, for instance, pay for pizza, she said, but also to make investments or trade assets.

“A whole commerce ecosystem and a financial ecosystem is going to emerge on the platform that does not exist today,” Yaccarino added .

Partnerships and integrations

X recently revealed its partnership with Polymarket, picking the blockchain-based platform as its official prediction market partner.

The move follows Musk’s comments on launching a peer-to-peer digital wallet service, dubbed X Money. Notably, this is expected to be a collaboration with payments giant Visa.

In her remarks, Yaccarino confirmed that the upcoming trading and investment features will initially be available to users in the United States. A broader rollout will aim to offer global users services such as merchandise purchases and tipping.