X Rolls Out Smart Cashtags in US, Enables Trading in Canada

Social media platform X has introduced its smart cashtag feature for iPhones in the US and Canada, enabling users to view stock and cryptocurrency data directly within the app. This move is part of Elon Musk's broader vision to transform X into a comprehensive financial platform. The feature allows users to post ticker symbols for specific assets or smart contract addresses, and tapping these tags displays live price charts and related posts. In Canada, users can now trade stocks and cryptocurrencies through a partnership with online brokerage Wealthsimple, although this trading functionality is not yet available in the United States. Nikita Bier, X's head of product, stated that cashtags are the initial step in establishing X as a premier destination for the finance and crypto community. This development aligns with X's ambition to become an 'everything app,' incorporating messaging, social networking, payments, and e-commerce. The integration with Wealthsimple in Canada offers a glimpse into how trading might be implemented globally. X plans to roll out these features to web and Android devices, as well as globally, in the near future. Experts suggest X is aiming to replicate the success of WeChat Pay by integrating financial services, with crypto transaction fees potentially serving as a key revenue stream for its 'everything app' ambitions.

(Source：Cointelegraph)