Social media platform X, formerly known as Twitter, is set to integrate stock and cryptocurrency trading directly into user feeds.
This move marks a significant escalation in Elon Musk’s bid to transform the platform into a dominant player in financial technology.
On February 14, Nikita Bier, X’s head of product, said the new functionality will allow users to execute trades immediately after discovering an asset on their timeline.
Sponsored
Sponsored
The feature centers on “Smart Cashtags,” an evolution of the platform’s existing indexing system. Currently, users prefix ticker symbols with dollar signs—such as $BTC for Bitcoin—to create clickable links.
Under the new system, tapping these symbols will display live price charts and related posts, and offer direct trading options.
This development is the company’s latest move to reduce friction when switching between social media and brokerage applications. By bridging these functions, the update potentially accelerates how quickly retail investors can act on information
The integration is a cornerstone of Musk’s broader strategy to evolve X into an “everything app.” Notably, he has championed this concept since acquiring the company in 2022.
The vision mirrors the utility of Asian “super apps” that combine messaging, social networking, and payments.
Over the past years, X has ramped up efforts to build a financial ecosystem. The firm has laid the groundwork for peer-to-peer transfers, daily consumer payments, and now, active investing.
However, the intersection of social media hype and financial speculation poses moderation challenges.
Bier noted that while the company intends for cryptocurrency to proliferate on the platform, it remains cautious regarding user experience.
He warned that applications that create incentives for spam, raiding, or harassment will not be supported. According to him, such behavior “meaningfully degrades the experience for millions of people.”
So, as X transitions from a town square to a trading floor, the company faces the dual challenge of competing with established brokerage firms while navigating the regulatory complexities inherent in facilitating financial transactions for a global user base.
Source: https://beincrypto.com/elon-musk-x-twitter-crypto-trading-feature/
