X, the social media platform led by Elon Musk (일론 머스크) and formerly known as Twitter, will soon add a feature allowing users to trade cryptocurrencies and stocks directly, Bloomberg reported on Saturday.
Nikita Bier (니키타 비어), X's head of product, explained that users will be able to click ticker symbols in their timeline and execute trades through a “Smart Cashtags” function.
The move is part of X's strategy to expand into a financial services platform. Its own payment system, called X Money, is preparing for external beta testing, and Musk said internal testing is under way. Musk underscored plans to make X an “all-in-one platform” that supports messaging, posts, remittances and investing.
Musk has previously mentioned integrating financial services into an app, and the introduction of the feature is expected to signal a full-fledged shift into a financial platform. Tesla and SpaceX have also invested actively in cryptocurrencies. Tesla currently holds 11,509 BTC after selling part of an initial investment of 42,300 BTC. SpaceX holds 8,285 BTC.
Musk has also continued to support the meme-inspired cryptocurrency Dogecoin (DOGE). In 2022, SpaceX said it would allow DOGE as a means of payment, and Musk recently mentioned the possibility of “sending” DOGE to the moon.