Elon Musk’s X to Offer Investments, Trading ‘Soon:’ FT

Elon Musk’s X is stepping up its push to turn the social media platform into an “everything app,” the Financial Times reported on Thursday.

The platform, formerly known as Twitter, will “soon” allow users to make investments or trades on the platform, CEO Linda Yaccarino told the newspaper in an interview at the Cannes Lions advertising festival.

“Soon you’re going to be able to live your whole financial life on the platform,” Yaccarino said in a panel appearance at the same event, listing peer-to-peer (P2P) payments, storing value, paying creators or watching pay-per-view (PPV) events as examples.

X partnered with Visa to develop “X Money” earlier this year as a digital wallet and P2P-payment service. This forms part of Musk’s ambition to turn X into a super app, akin to the Chinese WeChat, which offers numerous retail and financial services as well as messaging.

Elon Musk has become closely associated with cryptocurrency over a number of years, due to his fondness for memecoin DOGE and the 11,500 BTC ($1.2 billion) that his electric-car manufacturer Tesla holds.

As such, crypto observers will think it likely that any plans Musk has for X to provide financial services will involve cryptocurrency in some form.

X did not immediately respond to CoinDesk’s request for comment.