The X platform, formerly known as Twitter, under Elon Musk's leadership, plans to introduce new financial features, transforming into a universal application for users.
Expansion of X Platform Features
X CEO Linda Yaccarino announced in an interview with the Financial Times at the Cannes Lions advertising festival that new financial functions are coming to the platform. Users will be able to make payments, invest, and trade on the platform. Yaccarino said, 'You will be able to come to X and manage your entire financial life through this platform.'
The 'X Money' System and Its Capabilities
The company plans to launch the 'X Money' service in partnership with Visa. This service will initially be available in the US and expand to other countries. Users will not only be able to make purchases but also store money on the platform and tip content creators.
Future Plans and Recovery of Advertising Relationships
Musk aims to make X a one-stop platform for messaging, payments, shopping, and investing, akin to the Chinese app WeChat. However, this could lead to stricter regulations. Yaccarino mentioned that the platform has rebuilt relationships with advertisers, stating, '96% of pre-acquisition advertisers have returned to the platform.'
The X platform continues to evolve by introducing new features that may change how users approach finance and content interaction. The upcoming 'X Money' service is expected to significantly impact platform usage.
