Elon Musk’s X Takes On Robinhood, In-App Trading And Cards Coming Soon

Not keen on settling as a microblogging platform, X (formerly Twitter) will soon offer in-app trading and investment functionalities. The latest reveal brings X one step closer to its objective of becoming a super app as Elon Musk targets Robinhood’s dominance in financial services.

X To Offer Payments And Investment Capabilities For Use

According to a Financial Times report, X users will be able to make trades and a broad range of investments on the platform without additional integrations. X CEO Linda Yaccarino revealed the plans in an FT interview, noting that the company will soon roll out the new features, but did not give a clear timeline.

Yaccarino notes that the incoming offerings are in line with Elon Musk’s ambitions to transform X into a super app. While the social media platform has begun making inroads to earn the super app tag, offering full payment and investment services is within reach.

“You’ll be able to come to X and be able to transact your whole financial life on the platform, said Yaccarino. “And that’s whther I can pay you for the pizza that we shared last night ormake an investment or a trade.”

Yaccarino disclosed plans to roll out an X credit or debit card before the end of the year, doubling down on its payment capabilities. Previously, the company announced a digital wallet and a P2P payment service, tapping Visa as a payments partner.

The combined effect of its inroads in financial services could bring it into direct competition with Robinhood and other fintech platforms. X has been exploring the possibility of stablecoin integrations, joining Apple, Google, and Airbnb.

Elon Musk Steers Platform To SuperApp Status

Apart from financial services, Elon Musk is unfurling a range of offerings to advance X’s superapp ambitions. Elon Musk has teased XChat with Rust and Bitcoin-grade functionality to revolutionize messaging on the platform.

To lay the foundation for a superapp, X is cracking down on bots and other illegal activity on the platform. Several cryptocurrency accounts, including Pump.fun and its founder, were suspended for perceived platform violations. However, despite the lifting of the suspension on Pump.fun X account, several accounts remain banned.

Back in 2023, Elon Musk changed Twitter to X, in a rebrand to underscore its transformation to superapp status. The Tesla founder is pushing to make the platform mirror Chinese superapp WeChat, earning its stripes one feature at a time.