Elon Musk’s X to Offer Investments, Trading ‘Soon:’ FT

Elon Musk’s X is stepping up its push to flip the social media platform into an “everything app,” the Financial Times reported on Thursday.

The platform, previously referred to as Twitter, will “soon” permit customers to make investments or trades on the platform, CEO Linda Yaccarino informed the newspaper in an interview on the Cannes Lions promoting pageant.

“Soon you’re going to be able to live your whole financial life on the platform,” Yaccarino stated in a panel look on the similar occasion, itemizing peer-to-peer (P2P) funds, storing worth, paying creators or watching pay-per-view (PPV) occasions as examples.

X partnered with Visa to develop “X Money” earlier this yr as a digital pockets and P2P-payment service. This types a part of Musk’s ambition to flip X into an excellent app, akin to the Chinese WeChat, which presents quite a few retail and monetary companies in addition to messaging.

Elon Musk has change into carefully related to cryptocurrency over quite a few years, due to his fondness for memecoin DOGE and the 11,500 BTC ($1.2 billion) that his electric-car producer Tesla holds.

As such, crypto observers will assume it seemingly that any plans Musk has for X to present monetary companies will contain cryptocurrency in some type.

X didn’t instantly reply to CoinDesk’s request for remark.