tl;dr
X (formerly Twitter), under CEO Linda Yaccarino, is expanding its platform to include in-app financial services such as payments, tipping, investing, and fund transfers, aiming to become an "everything app." Plans include launching a branded debit or credit card by year-end. X has partnered with Vis...
Elon Musk’s X, formerly known as Twitter, is rapidly transforming into an “everything app” by integrating comprehensive in-app financial services. Under CEO Linda Yaccarino, the platform is expanding beyond social networking to include payments, tipping, investing, and fund transfers, with plans to introduce a branded debit or credit card by the end of the year. These developments represent a strategic pivot toward fintech, supported by partnerships such as the one with Visa to create the X Money Account digital wallet and the acquisition of money transmitter licenses in several U.S. states.
The company’s efforts aim to unify social media, entertainment, payments, and commerce into a single digital ecosystem, boosting user engagement with features like AI tools, live video, audio calls, and a forthcoming encrypted messaging system, XChat. Regulatory compliance plays a crucial role, as X ensures legal coverage to offer an array of financial services across major jurisdictions in the United States.
Despite Elon Musk’s well-known advocacy and interest in cryptocurrency, X has yet to confirm support for crypto transactions or plans to launch a dedicated digital token. This silence has raised questions within the user community, especially given Musk’s previous ventures in crypto, such as Tesla’s Bitcoin holdings. As X continues to expand its fintech capabilities, the future integration of digital assets remains speculative but widely anticipated by its tech-savvy audience.