X (formerly Twitter) has officially announced a significant step towards transformation as a super app. X CEO, Linda Yaccarino, confirmed that users will soon be able to trade, invest, and make payments directly within the X app.
This feature will be initiated with the launch of X Money, a digital wallet that enables:
Peer-to-peer (P2P) fund transfers
Merchant payments and digital products
Tipping for creators
X Money is planned to launch in the US this year, followed by additional features such as the X debit/credit card, and integration into digital asset markets as well as retail investment services.
This ambition reflects Elon Musk's vision to make X a unified platform like WeChat, but with a global approach. While it has the potential to disrupt the dominance of established fintechs like PayPal or CashApp, this project still faces challenges with licensing and financial regulations in various jurisdictions.
If successful, X could become the only platform that combines social media, digital wallets, and financial services in one ecosystem.