Elon Musk aims to evolve X into a platform where users can handle their entire financial lives. According to CEO Linda Yaccarino, the app will soon allow investments, payments, and trades directly on X. “You’ll be able to come to X and be able to transact your whole financial life on the platform,” she told the Financial Times. She added, “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.” This vision closely follows the model of China’s WeChat, which combines messaging, payments, and shopping.
X Debit and Credit Cards Coming Soon
Yaccarino confirmed that the platform plans to explore launching an X debit or credit card by the end of this year. This move aligns with Musk’s long-standing project to integrate payments and commerce into the app. In addition, X announced X Money, a digital wallet and peer-to-peer payment service partnering with Visa, set to debut later this year. Initially launching in the United States, X Money will allow users to store value, purchase goods, and tip creators. “A whole commerce ecosystem and a financial ecosystem is going to emerge on the platform that does not exist today,” Yaccarino said.
Challenges Ahead: Regulations and Advertiser Concerns
However, as X expands into financial services, it will face significant regulatory hurdles. Compliance with licensing, anti-money laundering laws, and other financial regulations will be critical challenges. Furthermore, advertiser relations have been rocky. Some advertisers left after Musk’s less hands-on moderation approach. Last summer, X filed an antitrust lawsuit against the Global Alliance for Responsible Media, accusing it of orchestrating an “illegal boycott” disguised as an online safety campaign. Despite these issues, X pushes forward with its ambitious transformation.
