Crypto users anticipate digital assets adoption as X expands financial features.
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
X (formerly known as Twitter) is ramping up efforts to integrate financial services directly into its ecosystem and moving beyond its roots in social networking, the Financial Times reported on June 19.
According to the report, the social media giant is preparing to let users carry out a wide range of financial transactions within the app. This includes day-to-day payments like buying food or tipping content creators, as well as more advanced tools for investing and digital fund transfers.
X CEO Linda Yaccarino also confirmed that the company is exploring the launch of a branded debit or credit card by the end of the year.
Yaccarino, who took the helm in 2023 after Elon Musk acquired the social media platform, has overseen a period of rapid transformation.
Under her leadership, X has added capabilities such as AI tools, live video, audio calls, and the soon-to-launch XChat, an upgraded messaging system with encrypted communication and disappearing messages.
These changes have helped boost engagement, with usage metrics trending upward in recent quarters.
“Everything App”
These moves are part of a broader strategy to evolve X into an “everything app,” echoing Musk’s long-held vision of combining social media, entertainment, payments, and commerce under a single platform.
Meanwhile, the new financial features are expected to build upon earlier initiatives like X Money and a peer-to-peer payments system.
Notably, the Musk-owned platform has partnered with Visa to develop the X Money Account, a digital wallet that supports fund transfers and peer-to-peer payments.
X has obtained money transmitter licenses in over 4 US states and is registered with FinCEN to support its growing fintech stack. These regulatory moves give the company a green light to offer many types of financial services across major jurisdictions legally.
Crypto integration?
Despite this progress, it is unclear whether digital asset transactions will be part of the platform’s offerings.
This is surprising considering Musk has consistently expressed interest in crypto and some of his companies, like Tesla, hold Bitcoin on their balance sheets.
However, his social media platform has not confirmed plans to support crypto transactions. There is also no indication that the platform will launch a token, despite increased speculation from the community.
Still, many users expect X to embrace digital assets, given its tech-forward direction and Musk’s pro-crypto disposition.
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin’s potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
News Desk
CryptoSlate is a comprehensive and contextualized source for crypto news, insights, and data. Focusing on Bitcoin, macro, DeFi and AI.
Related News
How Nemo Money Is Redefining Global Investing With Smart Tools and Zero Commission Trading
20k Weekly Raffle FREE ticket , 3000+ Slots/Originals/Sports
Stay ahead in the crypto game: Follow us on X for daily updates and analysis.
Oil markets tense amid U.S. airstrikes on Iran, while Bitcoin price holds steady
Alex Mashinsky forfeits rights to Celsius assets amid ongoing bankruptcy process
Bloomberg analysts revise altcoin ETF approval odds to ‘90% or higher’ as SEC requests amended filings
Bitwise CEO says Bitcoin’s true rival is US Treasuries, not gold
Meta Earth Network 2.0: Pioneering Web3 Innovation with Rewards and Global Events
Gate Releases May 2025 Transparency Report: Brand Revamp Ignites Strategic Acceleration
Bubblemaps Integrates with TON, Enhancing Transparency in Telegram’s Native Blockchain Ecosystem
ANGL Inc. Launches $ANGL Token on Uniswap, Integrated with the Angel Twin Ecosystem
Important Notice from BusinessmanForbes :The views expressed by our writers are independent and do not represent the opinion of BusinessmanForbes. No information herein constitutes investment advice. BusinessmanForbes does not endorse or guarantee any mentioned projects. Cryptocurrency investment carries high risk. Always perform your own due diligence before making any decisions. BusinessmanForbes is not liable for any resulting financial losses