Elon Musk to Transform X Into a Super‑App: Soon You'll Be Able to Pay and Invest Right in Tweets

Elon Musk known for his ground-breaking work in electric vehicles and space exploration, is now turning his attention to the world of finance as he intends to introduce financial services directly into X, the platform formerly known as Twitter.

Musk made his ambitions for X clear as he envisions the platform evolving far beyond its social media origins.

'Get ready for a significant shift. X is set to become a comprehensive everything app where financial transactions and investments could soon be just a tap away, directly within your tweets,' he affirms.

Musk's vision is to transform X into an 'everything app', much like China's WeChat, by embedding investment and trading capabilities.

X's Ambitious Vision for User Transactions

In a discussion with the Financial Times, X's CEO, Linda Yaccarino, shared an ambitious outlook. She stated that the platform's approximate 600 million users will ultimately be able to handle 'whole life on the platform' directly on the service, encompassing everything from sending money to overseeing investments.

The company is also considering introducing an X-branded credit or debit card, potentially later in the year. Visa has already joined forces with X, becoming its initial payment partner.

The X Money service will incorporate a digital wallet and provide peer-to-peer payment features. Users can make purchases, hold funds, and support content creators, all within the application.

'You will be able to go on X and conduct all your financial transactions on the platform,' said Yaccarino at the Cannes Lions International Festival of Creativity.

X's Financial Ecosystem Takes Shape

The initiative is set to roll out in the US, with ambitions for a worldwide expansion. The Musk-owned social media giant could unveil branded credit and debit cards as soon as this year. Yaccarino described this undertaking as establishing the foundation for 'a whole commercial and financial ecosystem that doesn't exist today.' However, regulatory hurdles could slow down its development.

Regulatory examination regarding licensing and adherence to anti-money laundering regulations could pose significant obstacles to Musk's ambitious intentions. Furthermore, X is working to revitalise its advertising operations after numerous advertisers departed following Musk's acquisition in 2022.

Worries about content moderation and ensuring brand safety prompted many advertisers to leave when some advertisements appeared alongside contentious material.

Despite these concerns, Yaccarino states that 96% of advertisers from before the acquisition have returned. The research firm eMarketer forecasts that X will generate $1.9 billion (£1.41 billion) in ad revenue this year and $2.3 billion (£1.71 billion) in 2025—figures that remain below the $4.1 billion (£3.05 billion) it achieved in 2022.

Key Features on the Horizon

In December 2024, Yaccarino provided hints about several features planned for release, including X TV, X Money, and Grok, an AI-powered chatbot. These introductions suggest that 2025 will be a pivotal year for Musk's ambition to establish X as an all-encompassing digital hub.

Musk envisions X offering a smooth user experience where financial dealings are woven directly into everyday online activities. This strategic shift seeks to keep people deeply involved with the platform by providing various services.

As X pushes forward with its ambitious transformation, the coming months will reveal just how extensively it reshapes our digital interactions, particularly in the realm of personal finance. Whether it fully achieves its 'everything app' vision remains to be seen, but one thing is clear: X is poised to become far more than just a social platform.