X CEO Linda Yaccarino announced the platform will soon enable users to make payments, investments, and trades directly through the social media app, marking a significant step in Elon Musk’s vision to transform X into a comprehensive “everything app.”
Key Details
X is preparing to launch financial services that will allow users to conduct peer-to-peer payments, make investments, and execute trades directly on the platform. The company plans to introduce X Money, a digital wallet service partnering with Visa, starting in the United States later this year before expanding globally. According to Yaccarino’s interview with the Financial Times, X is also exploring the possibility of launching its own credit or debit card to further integrate financial services into the platform.
By the Numbers
- Launch Timeline: X Money digital wallet expected later this year
- Initial Market: United States first, then global rollout
- Partnership: Visa as the primary financial services partner
- Platform Evolution: Expansion beyond social media into financial services
About X’s Super App Strategy
X, formerly Twitter, has been undergoing significant transformation under Elon Musk’s ownership as part of his ambitious plan to create a WeChat-style super app. The platform recently introduced XChat, an encrypted messaging feature designed to compete with Meta’s offerings. The addition of financial services represents another major component in this comprehensive platform strategy, combining social media, messaging, and now banking services under one application.
“Soon you’ll be able to pay each other or make an investment or a trade”
Looking Ahead
The integration of investment and trading capabilities positions X to compete directly with established fintech platforms and traditional financial institutions. For MENA entrepreneurs and investors, this development signals the growing convergence of social media and financial technology, potentially creating new opportunities for regional fintech startups to develop similar integrated solutions.
The success of X’s financial services rollout could influence how other social platforms approach financial integration, particularly in markets like the MENA region where mobile-first financial solutions are rapidly gaining adoption. Founders should monitor how user adoption and regulatory responses develop, as these factors will likely shape the broader landscape for social commerce and embedded finance solutions.
The X Money wallet’s ability to facilitate creator monetization through tipping features may also provide insights for regional platforms looking to enhance creator economy tools and revenue-sharing mechanisms.
Source: Waya
