The CEO of X Corp., Linda Yaccarino, announced that trading and investing features will soon be available on the social network X. Users will be able to conduct financial transactions directly on the platform, significantly expanding its capabilities.
This is reported by Бізнес • Медіа
Expansion of financial services at X Corp.
According to Yaccarino, the company is working on launching new financial tools that will allow users not only to invest but also to carry out various transactions. She noted that soon it will be possible to pay for goods, services, and even send donations to content creators without leaving the platform. These capabilities will be provided by the X Money service, which will operate in partnership with Visa.
Yaccarino also confirmed that X Corp. is considering the release of its own banking card, which could launch as early as 2025. Details of this project are currently not disclosed, but it is expected that the card will be integrated with the X Money peer-to-peer payment service.
“You will be able to come to X and conduct your entire ‘financial life’ on the platform. This applies to whether I can pay you for the pizza we shared last night, as well as investments or other transactions. So this is the future,” Yaccarino stated in an interview with the publication.
At the initial stage, the proposed financial services will be available only to users in the United States, but the geographical reach is planned to be significantly expanded later.
Situation with advertisers and integration of artificial intelligence
During the interview, Linda Yaccarino commented on the situation with advertisers, noting that currently, 96% of partners who previously left the platform after Elon Musk’s acquisition of Twitter (now X) in 2022 have returned. According to her, the company is approaching the restoration of advertising revenue levels that existed before the deal with Musk. However, representatives of the advertising market express skeptical views regarding such forecasts.
Yaccarino also responded to information about possible lawsuits against partners who refuse to place ads, denying these claims. She commented on the recent acquisition of X by the startup xAI, noting that the integration of artificial intelligence-based solutions will positively impact the development of the social network’s functionality.