X Cashtags Drives $1 Billion in Early Trading Volume

TLDR

• X said its new Cashtags feature generated about $1 billion in global trading volume within days of launch.
• Head of Product Nikita Bier shared the trading volume estimate based on aggregated pilot data.
• X launched Cashtags for iPhone users in the United States and Canada earlier this week.
• The feature allows users to view real-time data on stocks and cryptocurrencies directly in their timelines.
• Bier confirmed that X does not execute trades or operate as a brokerage platform.

X reported that its new Cashtags feature generated about $1 billion in global trading volume within days of launch. The update allows users to track stocks and cryptocurrencies directly inside their timelines on iPhone. Head of Product Nikita Bier shared the figures on Friday and cited aggregated pilot data.

X Cashtags Records $1 Billion in Early Trading Activity

Nikita Bier said X Cashtags produced an estimated $1 billion in trading volume worldwide since Tuesday night. He wrote on X that the estimate comes from aggregated data tied to the company’s trading pilot. He did not provide a detailed breakdown of the transactions. However, he stressed that the numbers reflect activity since the feature went live.

Earlier this week, X introduced Cashtags for iPhone users in the United States and Canada. The feature lets users view financial data for stocks and cryptocurrencies within their timelines. Users can tap on ticker symbols to see price charts and related information. Bier said X does not execute trades or act as a brokerage, but builds financial data tools and links.

Feature Launch Aligns with Broader X Money Plans

The Cashtags release supports Elon Musk’s plan to expand X into a multi-service platform. Musk said last month that X plans to roll out early public access to X Money in April. X Money will function as a digital wallet for peer-to-peer transfers and payments. The company has not confirmed whether the wallet will support digital asset transactions.

Bier has also addressed the crypto market’s recent performance. A day before the launch, he wrote that crypto had a rough year and hinted at a new initiative. “Maybe we should launch something to fix it,” he posted. He later confirmed that Cashtags would focus on financial data access rather than trade execution.

Bier said X has long served as a source of market information for traders and investors. “X has always been the best source of financial news for traders and investors,” he wrote. He added that billions of dollars move daily based on the content people read on their timelines.

Mizuho analysts this week discussed the potential for digital asset transactions on X. They said such a move could face regulatory resistance in certain markets. However, X has not announced any plan to integrate crypto payments into X Money.

Bier joined X in June and also serves as an advisor to Solana Labs. He has focused on product expansion since taking the role. The company continues to expand financial features as it prepares for the April launch of X Money.

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