Social media app X will roll out investing and trading services “soon” and is also pondering its own debit or credit card, claims CEO Linda Yaccarino.
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Speaking to the Financial Times, Yaccarino echoed a claim long made by Elon Musk, saying: “You’ll be able to come to X and be able to transact your whole financial life on the platform.”
She adds: “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.”
Musk has a long-held ambition to transform X into an “everything app” along the lines of Chinese giant WeChat, where users can conduct their “entire financial life”.
In October 2023, at an all hands call with employees, he said: “When I say payments, I actually mean someone’s entire financial life. If it involves money. It’ll be on our platform. Money or securities or whatever. So, it’s not just like send $20 to my friend. I’m talking about, like, you won’t need a bank account.”
In January, the platform struck a deal with Visa ahead of the launch of a digital wallet and peer-to-peer payments service that is slated to launch later this year.
The account, Yaccarino said at the time, will allow for instant X Wallet funding via Visa Direct, enable users to connect their debit cards for P2P payments, and have the option to instantly transfer funds to bank accounts.
Now, the CEO has also floated the possibility of an X credit or debit card, which could also arrive this year.
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