According to Gate News bot, the Financial Times reported on June 19 that X (formerly Twitter) is intensifying efforts to integrate Financial Service directly into its ecosystem, surpassing its foundation in the Social Web.
According to reports, this social web giant is preparing to allow users to conduct various financial transactions within the app, including everyday payments such as purchasing food or tipping content creators, as well as more advanced investment and digital fund transfer tools.
CEO Linda Yaccarino also confirmed that the company is exploring the launch of a brand debit or credit card by the end of this year. After Elon Musk ( acquired the social media platform Facebook, Yaccarino took over as CEO in 2023, witnessing Facebook’s rapid transformation.
Under her leadership, X has added features such as AI tools, live video, audio calls, and the upcoming XChat, which is an upgraded messaging system with encrypted communication and disappearing messages.
These changes help increase participation, and the usage rate indicators have shown an upward trend in recent quarters.
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