X to offer investment and trading in ‘super app’ push. Foray into financial services could also include introducing a credit or debit card, CEO Linda Yaccarino says in an interview:
“𝙔𝙤𝙪’𝙡𝙡 𝙗𝙚 𝙖𝙗𝙡𝙚 𝙩𝙤 𝙘𝙤𝙢𝙚 𝙩𝙤 𝙓 𝙖𝙣𝙙 𝙗𝙚 𝙖𝙗𝙡𝙚 𝙩𝙤 𝙩𝙧𝙖𝙣𝙨𝙖𝙘𝙩 𝙮𝙤𝙪𝙧 𝙬𝙝𝙤𝙡𝙚 𝙛𝙞𝙣𝙖𝙣𝙘𝙞𝙖𝙡 𝙡𝙞𝙛𝙚 𝙤𝙣 𝙩𝙝𝙚 𝙥𝙡𝙖𝙩𝙛𝙤𝙧𝙢,” Yaccarino said in an interview with the Financial Times at the Cannes Lions advertising festival: https://lnkd.in/dhexPeYi
“And that’s whether I can pay you for the pizza that we shared last night, or make an investment, or a trade. So that’s the future.”
She added that the company was also exploring the introduction of an X credit or debit card, which could come as soon as this year.
The proposed foray into financial services comes as Musk seeks to model the platform, which he bought in 2022, after China’s WeChat, a one-stop shop for messaging, payments, and shopping.
X has already said it will be introducing 𝗫 𝗠𝗼𝗻𝗲𝘆, a digital wallet and peer-to-peer payment service, with Visa as its first partner later this year: https://lnkd.in/d5Wr7A8u
Yaccarino on Tuesday added that 𝗫 𝗠𝗼𝗻𝗲𝘆 would launch in the US 🇺🇸 first before being rolled out elsewhere, and said that the service would allow users to buy merchandise, store value, or tip creators on the platform.