Social media platform X has generated about $1 billion in trading volume within the first two days of launching its new Cashtags feature, according to company data.
Cashtags let users view stock and crypto prices directly inside the app by tapping on ticker symbols in posts. The feature is currently available to iPhone users in the US and Canada.
The rollout is part of Elon Musk’s plan to turn X into an “everything app,” expanding beyond social media into payments, shopping and financial services.
In Canada, online brokerage Wealthsimple has already integrated Cashtags, allowing users to click on tickers and trade directly through its platform. However, the feature has not yet been linked to any US-based brokerage.
With more than 550 million monthly users, X is positioning itself as a major player in financial data and trading tools, competing with traditional market platforms.
The company is also developing “X Money,” a new peer-to-peer payments system that could include features like cashback cards and interest-earning accounts, though details on crypto integration have not yet been confirmed.
Featured image from: cointelegraph.com