X to add in-timeline stock and crypto trading… “Click a post to trade instantly”

Source
Minseung Kang

Summary

  • Nikita Bier said that X will introduce Smart Cashtags in the coming weeks, enabling users to trade stocks and cryptocurrencies directly from the timeline.
  • Musk said he aims to develop X into an “everything app” spanning messaging, posting, remittances and investing, and that an external beta of its in-house payments system X Money will begin within 1–2 months.
  • The outlet said that as in-platform financial functions expand, licensing and the build-out of know-your-customer (KYC) and anti-money-laundering (AML) frameworks are likely to be key variables.

According to CoinDesk, a crypto (cryptocurrency) news outlet, Nikita Bier, X’s head of product, said on the 15th that “we plan to roll out several features, including Smart Cashtags, in the coming weeks,” adding that “users will be able to trade stocks and cryptocurrencies directly from the timeline.”

Smart Cashtags are designed so that clicking a ticker symbol embedded in a post pulls up related asset information and then routes the user into a trade flow. The key feature is that discovery, verification and execution can all be completed within the feed, without moving to a separate app or external site.

X’s strategy is to integrate financial functions into the flow of social conversation. However, it has not disclosed specifics on whether X will handle order execution and custody itself or process them through external partners.

In the market, there is also a view that combining social networks with real-time trading features will improve convenience, while making it increasingly important to build risk-management systems against impulsive trading and information distortion.

Meanwhile, Musk has laid out a vision of developing X into an “everything app” spanning messaging, posting, remittances and investing. The company is also conducting internal tests of its in-house payments system, “X Money,” and has previously said it plans to begin an external beta within 1–2 months.

The outlet said that “as in-platform financial functions expand, licensing and the build-out of know-your-customer (KYC) and anti-money-laundering (AML) frameworks are likely to be key variables.”

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Minseung Kang

minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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