Crypto Journalist
Amin Ayan
Crypto Journalist
Share
Elon Musk’s social media platform X is preparing to roll out a feature that could transform the app from a discussion forum into a trading venue.
Key Takeaways:
- X plans to launch Smart Cashtags allowing users to trade stocks and cryptocurrencies directly in posts.
- The feature advances Musk’s vision of turning X into an all-in-one financial and social platform.
- It will roll out alongside X Money, a peer-to-peer payments system currently in beta testing.
Nikita Bier, X’s head of product, said the company plans to introduce “Smart Cashtags,” a tool that will allow users to buy and sell stocks and cryptocurrencies directly from their timelines.
The feature is expected to arrive within weeks, according to a post published Saturday.
X To Roll Out Smart Cashtags Enabling Stock And Crypto Trades From Posts
“We are launching a number of features in a couple of weeks, including Smart Cashtags that will enable you to trade stocks and crypto directly from the timeline,” Bier wrote.
Bier had previously hinted at the feature in January, sharing an image showing trading functionality embedded in posts, but the company had not confirmed the details at the time.
X previously experimented with financial features. In 2022, it added a basic Cashtag system that displayed price charts and market data for major assets such as Bitcoin and Ether.
Users could view market movements inside posts, though the feature only tracked prices and did not enable transactions. The earlier system was later discontinued.
The planned trading capability would mark a major shift for the platform, which already hosts a large share of online crypto conversation. Allowing direct transactions would move X beyond information sharing and into financial services.
The development aligns with Musk’s long-standing plan to turn X into an “everything app,” comparable to China’s WeChat, where messaging, payments and services operate in one place.
The trading feature comes alongside X Money, a peer-to-peer payments system. Speaking during a presentation at his artificial intelligence company xAI, Musk said the payment tool is currently in limited beta testing and could expand globally after the trial period.
“This is intended to be the place where all money is — the central source of monetary transactions,” Musk said.
According to Musk, the platform reaches roughly 600 million monthly users.
X Cracks Down on Crypto-Linked Engagement Apps
As reported, X has recently come under scrutiny after restricting API access for so-called InfoFi and engagement-reward projects, many of which were tied to crypto incentives.
The company said it would no longer allow apps that reward users for posting or interacting on X, citing concerns over AI-generated spam and manipulation.
Beyond crypto, X’s broader AI strategy has drawn regulatory attention, particularly in Europe, where authorities have raised concerns about Grok’s image-generation features.
The platform has since limited certain capabilities and introduced safeguards after investigations were launched.
X’s decision to clamp down on so-called InfoFi applications sent fresh shockwaves through the crypto market, dragging several tokens sharply lower and forcing a rethink across a niche that had grown tightly intertwined with the social media platform.
The immediate market reaction was led by KAITO, the token linked to the Kaito platform, which slid roughly 20% in a single day as investors digested what many saw as a structural threat rather than a short-term policy tweak.
Credit: Source link
