Social media app X is set to introduce investing and trading services "soon," alongside the potential launch of a debit or credit card, according to CEO Linda Yaccarino.
In an interview with the Financial Times, Yaccarino emphasized a vision long shared by Elon Musk: “You’ll be able to come to X and be able to transact your whole financial life on the platform.” She elaborated, saying, “That’s whether I can pay you for the pizza we shared last night or make an investment or a trade. So that’s the future.”
Musk has been striving to turn X into an "everything app," similar to China’s WeChat, where users can manage their "entire financial life." In an all-hands call with employees in October 2023, he asserted, “When I say payments, I actually mean someone’s entire financial life. If it involves money, it’ll be on our platform. So, it’s not just sending $20 to my friend; I’m talking about not needing a bank account.”
In January, the platform secured a deal with Visa for the upcoming launch of a digital wallet and peer-to-peer payments service, expected later this year. Yaccarino noted that this account will facilitate instant X Wallet funding through Visa Direct, allow users to connect their debit cards for P2P payments, and offer the option to quickly transfer funds to bank accounts.
Additionally, the CEO hinted at the potential for an X credit or debit card, which may also be introduced this year.