In an ambitious move set to reshape the financial landscape of social media, X, the platform formerly known as Twitter, is preparing to unveil its new feature that will allow users to trade cryptocurrencies directly from their timelines. This capability, expected to debut in a couple of weeks, is part of Elon Musk”s broader vision to transform X into an all-encompassing app for financial transactions.
The upcoming feature, dubbed “Smart Cashtags,” will enhance the existing cashtag functionality that enables users to track cryptocurrencies like Bitcoin (BTC) by simply typing symbols such as $BTC. However, the new iteration goes beyond basic tracking. With a single tap on a cashtag, users will gain access to live price charts, relevant discussions, and an integrated trading option that facilitates immediate transactions.
These advancements aim to streamline the process from asset discovery to trading, eliminating the need for users to navigate away from X to execute trades. This reflects X”s ongoing efforts to build out its financial toolset, which has evolved since the introduction of cashtags in 2022.
Elon Musk”s acquisition of X in 2022 signaled a strategic pivot for the platform, with a clear intent to evolve into an “everything app.” Central to this ambition is the development of X Money, a feature currently in limited beta that will enable users to send and receive payments directly within the app, akin to popular peer-to-peer payment solutions. Musk envisions X as a comprehensive hub for everyday transactions, aiming to consolidate various financial activities under one roof.
During a recent presentation for his AI initiative, xAI, Musk stated, “This is intended to be the place where all money is. The central source of all monetary transactions…” With around 600 million monthly active users, X possesses a substantial user base that could facilitate this transformation.
As X prepares to introduce in-app trading for cryptocurrencies, it positions itself as a competitor to traditional exchanges and fintech applications. With these developments, X could emerge as a favored platform for transactions, potentially reshaping how users engage with cryptocurrency trading.
