Elon Musk is pushing X one step closer to becoming a super app, teasing in-app investment and trading functions to take on Robin Hood.
Not wanting to settle as a microblogging platform, X (formerly Twitter) will soon offer in-app trading and investment features.
The latest revelation brings X one step closer to its goal of becoming a super app as Elon Musk targets the Robin Hood dominance of financial services.
X to offer payments and investment capabilities for use
According to a Financial Times report, X users will be able to trade and invest broadly on the platform without additional integrations.
XCEO Linda Yaccarino revealed the plans in an FT interview, noting that the company will introduce new features soon, but did not give a clear timeline.
Yaccarino notes that the upcoming offerings are in line with Elon Musk's ambitions to turn X into a super app.
While social media platforms have started making inroads to earn the super app tag, offering full payment and investment services is within reach.
“You’ll be able to come to X and be able to transact your whole financial life on the platform, said Yaccarino. “And that’s whther I can pay you for the pizza that we shared last night ormake an investment or a trade.”
Yaccarino also revealed plans to introduce an X credit or debit card before the end of the year, doubling its payment capabilities.
Earlier, the company announced a digital wallet and P2P payment service, tapping Visa as a payment partner.
The combined effect of its penetration into financial services could put it in direct competition with Robin Hood and other fintech platforms. X is exploring the possibility of stablecoin integration, joining Apple, Google, and Airbnb.
Elon Musk Takes the Platform to Super App Status
In addition to financial services, Elon Musk is rolling out a number of offerings to further X's super-app ambitions.
Elon Musk has teased XChat with Xing and bitcoin-grade functionality to revolutionize messaging on the platform.
To lay the groundwork for a super app, X is cracking down on bots and other illegal activities on the platform.
Several cryptocurrency accounts, including Pump.fun and its founder, have been suspended for platform violations.
However, despite the suspension being lifted on the Pump.fun X account, several accounts remain banned.
Back in 2023, Elon Musk changed Twitter to X, in a rebrand to highlight its transition to super app status.
Tesla's founders are pushing the platform to mirror Chinese super app WeChat, getting its stripes one feature at a time.