The X platform, owned by Elon Musk, is preparing to implement new financial services, strengthening its position as a multifunctional app.
Announcement of New Financial Services
Linda Yaccarino, CEO of the X platform, announced the launch of investment and trading services during a panel discussion at the Cannes Lions festival, stating: *"Soon, you will be able to manage your entire financial life on the platform"*.
Key Elements of X Money
The platform is already developing several new features, including: • The creation of a digital wallet *"X Money,"* planned to launch in early 2025; • A partnership with Visa to support P2P payments; • Goals: value storage, payments to creators, purchase of paid content, and transfers between users; • Positioning X as a central financial hub beyond its original social networking scope.
Prospects for Cryptocurrency Integration
While Linda Yaccarino did not mention cryptocurrencies, Elon Musk's connections to this sphere generate interest in possible integration. His companies, such as Tesla, already hold substantial bitcoin reserves, potentially paving the way for accepting crypto assets on the platform. This direction could elevate X to a new level in combining financial and crypto services, raising regulatory questions.
X's shift towards providing financial services demonstrates a strategic move towards developing a multifunctional ecosystem. This may establish X as a key player in the growing market of integrated financial applications.
