X users will soon be able to make investments or trades on the social media platform, X’s chief executive Linda Vaccarino told the Financial Times on Thursday.
In an interview with the publisher, Vaccarino said that the firm is considering introducing a
credit or debit card for X, which is scheduled to launch this year.
The move would support owner Elon Musk’s vision of creating a “super app” with the goal of offering a wide range of services, including messaging, social networking, and payments, similar to WeChat in China.
“2025 X will connect you in ways never thought possible. X TV, X Money, Grok, and more,” Yaccarino emphasised the strategic direction in a post in December last year.
In January, Reuters reported that payments giant Visa and X were collaborating to offer direct payment solutions to customers of the social media app, according to sources familiar with the matter.
Sources added that Visa will be the first partner of the X Money account, through which customers will be able to instantly fund their X wallet and link their debit cards for peer-to-peer payments. Users will also be able to instantly transfer funds to their bank account from X Money.
In April 2022, Musk struck a $44 billion deal to buy Twitter and then renamed it X. Vaccarino joined X from NBC Universal one year later, following a slump in advertiser interest, who were concerned that ads might be associated with inappropriate content.
During the interview with the Financial Times, Vaccarino said that 96 per cent of X’s pre-acquisition customers have already returned to the platform.
According to data provided by research firm Emarketer in March, the company is poised to post its first ad revenue growth this year since Musk’s acquisition.
