Elon Musk wants to make X (formerly Twitter) as the core of your financial world, managing all aspects of your financial life. He anticipates those features to be available by the end of next year. This vision aligns with Musk’s goal of transforming X into an “everything app.”
During an all hands call with X employees, Musk said that people will be surprised with “just how powerful it is,” reports The Verge.
Also read: Elon Musk’s X releases early version of audio & video calls: Know more
“When I say payments, I actually mean someone’s entire financial life,” Musk told employees. He further said, “If it involves money. It’ll be on our platform. Money or securities or whatever. So, it’s not just like send $20 to my friend. I’m talking about, like, you won’t need a bank account.”
Also read: Elon Musk says X, formerly Twitter, might charge all users a small monthly payment
On the other hand, X CEO Linda Yaccarino said that the company envisions this evolving into a “full opportunity” in 2024. Also, Musk said, ”It would blow my mind if we don’t have that rolled out by the end of next year.”
Musk has talked about his idea to transform X into a financial centre in the past. He even changed the name of Twitter after his dot-com-boom-era online bank, X.com, which later merged with PayPal, the report said.
He once mentioned that this platform would provide things like high-yield money market accounts, debit cards, checks, and loans. The aim was to enable people to send money globally quickly and in real-time.
Musk’s aim to transform X into a comprehensive financial services hub aligns perfectly with his vision of turning the platform into an “everything app.”
However, getting users to trust X with their entire financial life will not be an easy task.
