Elon Musk’s vision to turn X (formerly Twitter) into an “everything app” is taking clearer shape, with financial services at the center of the transformation — echoing China’s WeChat model that combines messaging, payments, commerce, and more.
By the numbers
- X will soon allow users to make investments and trades on the platform, CEO Linda Yaccarino revealed at Cannes Lions.
- A new digital wallet, X Money, launches later this year in partnership with Visa.
- The platform may also roll out a branded credit or debit card by year-end.
Driving the news
Yaccarino said users will “transact [their] whole financial life” on X — from tipping creators to buying merchandise or even investing.
“Whether I can pay you for the pizza that we shared last night or make an investment or a trade — that’s the future,” she told the Financial Times.
The big picture
X Money will first launch in the U.S. and later expand globally.
- It will support peer-to-peer payments, tipping, storing value, and digital commerce.
- Yaccarino touted the future of a “commerce ecosystem and financial ecosystem” on X.
Between the lines
The move could expose X to tough regulatory scrutiny, especially around licensing and anti-money laundering compliance.
Zoom out
X is still navigating financial instability after Musk’s $44B takeover in 2022 led to a mass advertiser exodus.
- Concerns included brand safety, moderation issues, and Musk’s own posts.
- Yaccarino claims 96% of advertisers have since returned, and ad revenues are on track to hit pre-acquisition levels “super soon.”
Yes, but:
- Some brands at Cannes expressed ongoing skepticism over content moderation and ad effectiveness.
- Others felt pressured to advertise, with allegations of legal threats surfacing — accusations Yaccarino dismissed as “hearsay.”
Meanwhile
- X is beefing up its AI capabilities following a $45B merger with Musk’s AI startup, xAI.
- The integration is expected to improve ad targeting and content relevance in real time.
Source: Financial Times
