X is preparing to roll out a suite of financial services, including investment, trading, payments, and even an X credit or debit card
The social media platform has over 600 million monthly users
Competition is bound to happen as Sam Altman’s startup World is also developing its own ‘everything app’
It was revealed today that X is preparing to roll out a suite of financial services, including investment, trading, payments, and even an X credit or debit card. This is all under the banner of what CEO Linda Yaccarino and Elon Musk refer to as an ‘everything app.’
It was already announced that X will debut X Money, a digital wallet and peer-to-peer payment system, starting in the US in partnership with Visa.
From the looks of it, the users will reportedly soon be able to buy, trade, and manage investments directly through X, and there are plans to issue an X-branded card to complement the ecosystem.
That said, with these announcements, many are wondering if X can actually bring crypto trading to the masses. There are some reasons why this could be true, but there are also a few big ‘ifs’ present.
The Bull Case: A 600 Million User On-Ramp
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