X Will Expand into Financial Services, Says CEO Linda Yaccarino

Social media platform X, formerly known as Twitter, is taking a big leap into digital finance. CEO Linda Yaccarino announced that users will soon be able to make trades and manage investments directly through the app. This move supports Elon Musk’s vision of turning X into an “everything app” that mirrors China’s WeChat.

“You’ll be able to come to X and handle your entire financial life,” Yaccarino told the Financial Times.

She explained that X wants to simplify everyday financial tasks. “Whether it’s paying someone for pizza or investing, that’s the future,” she said. The company is also exploring the launch of an X-branded credit or debit card, potentially by the end of this year.

Yaccarino confirmed that X is already developing a new service called X Money, in partnership with Visa. The platform will initially launch in the U.S. and will function as a digital wallet and peer-to-peer payment tool.

X Money will allow users to:

Yaccarino emphasized that the company is building “a whole commerce and financial ecosystem” on a platform where none currently exists.

This strategic expansion comes as X faces financial pressure. Since Elon Musk acquired Twitter for $44 billion in 2022 and rebranded it as X, the platform has lost many advertisers—its main source of income.

Some brands left due to Musk’s more lenient content moderation policies, which they feared could place ads next to controversial content. Musk’s own behavior on the platform has also drawn criticism and added to advertisers’ concerns.

As traditional revenue streams decline, X is banking on financial services like X Money to revitalize its platform and redefine what a social network can be.