Elon Musk's X to launch in-app investing and trading, FT reports.

Elon Musk's X platform, formerly Twitter, is reportedly exploring the addition of stock trading and other financial services to its app. However, Musk himself has denied these claims, stating "No work is being done on this" as of August 2023.

Despite this, X has been developing a digital payments system, known as X Money, which is expected to launch this year. The platform has acquired 39 state payments licenses in the US and is working on a digital dashboard for sending and receiving peer-to-peer transactions, storing funds, and viewing transaction history.

Users can send and receive money directly within the app.

A user-friendly interface for managing transactions and stored funds.

X Money might integrate additional financial services, such as investing and trading, in the future.

It's worth noting that X Money will face stiff competition in the peer-to-peer payments market, dominated by players like Zelle, Venmo, and Cash App. To succeed, X Money will need to differentiate itself and build trust with users.#CryptoStocks $BTC