Elon Musk’s X platform is preparing to roll out trading and payment features in a major expansion into financial services, as the company continues to reposition itself beyond social media, the Financial Times reported.

The plans mark a significant step in Musk’s ongoing effort to build an all-in-one “everything app” modeled after China’s WeChat. X CEO Linda Yaccarino confirmed that users will “soon” be able to make investments and trades directly through the platform.

Speaking at the Cannes Lions advertising festival, she said the goal is to allow users to handle their entire financial life within the app—from transferring money to making purchases or executing trades.

Digital Wallet and Card Product in Development

As part of the move, X plans to introduce X Money, a digital wallet and peer-to-peer payment service. The platform will launch first in the United States, with Visa as its initial partner.

According to Yaccarino, the feature will support tipping creators, storing value, and purchasing merchandise. X is also reportedly exploring the launch of a credit or debit card, which could become available by the end of the year.

You may also find interesting: “Automation Will Benefit From AI in Client Onboarding,” Experts Say at iFX EXPO International 2025

The expansion signals Musk’s ambition to replicate elements of WeChat’s integrated approach to messaging, payments, and commerce within a single application.

Recently, Musk announced limited testing for X Money, his long-anticipated payments and banking platform. This marked a key step toward transforming X into a multifunctional app.

Regulatory and Business Risks Remain

X’s move into financial services is likely to attract regulatory scrutiny. Adding payment and investment tools will require compliance with licensing laws and anti-money laundering regulations, which could create operational challenges for the company.

The development also comes as X continues to work toward stabilizing its core advertising business. The company has struggled to regain lost ad revenue following Musk’s $44 billion acquisition in 2022.

Yaccarino claimed that 96 percent of the company’s pre-acquisition advertising clients have now returned and said X expects to return to 2022 ad revenue levels “super soon.” Some brands and agencies, however, remain cautious.

The company has taken legal action against what it describes as an industry boycott. Last year, X filed a federal antitrust suit against the Global Alliance for Responsible Media and several brands, accusing them of coordinating an illegal boycott.

X also plans to integrate artificial intelligence tools following its $45 billion acquisition by xAI, Musk’s AI venture. Yaccarino said the platform now has “double the amount of engineers” working on systems to improve ad targeting and match content trends in real time.

This article was written by Jared Kirui at www.financemagnates.com.TrendingRead More

You might also be interested in reading Ascot Resources names Currie as new CEO, succeeding White.