X CEO: "Investment Services Coming Soon...Credit Card Launch Under Review This Year"

X is launching investment and trading services. X is also considering releasing a credit card within the year.

Linda Yaccarino, CEO of X, said in an interview with the Financial Times (FT) on the 19th (local time), "Soon, you will be able to invest or trade on the X platform." CEO Yaccarino added, "You will be able to handle all financial transactions on X," and "We are also reviewing the launch of credit and debit cards, which could be introduced within the year."

In the second half of this year, X also plans to launch a digital wallet and a peer-to-peer (P2P) payment service called 'X Money.' The global payment company Visa will serve as the partner for X Money. CEO Yaccarino explained, "X Money will launch first in the United States," and "Via X Money, users will be able to purchase goods on X, store value, or tip creators." She added, "A complete financial and commerce ecosystem, which currently does not exist, will be built on X."

X also intends to enhance artificial intelligence (AI) functions within its platform. To this end, X is reported to be collaborating with the AI startup xAI, led by Elon Musk, CEO of Tesla. CEO Yaccarino noted, "Through collaboration with xAI, we can provide more relevant ads for real-time trending content," and "We have also doubled the number of engineers assigned to platform improvement."

Meanwhile, the market research agency Emarketer has projected that X will generate $2.3 billion in revenue this year, an increase of $400 million from last year ($1.9 billion). However, this is nearly half compared to $4.1 billion in 2022, the year Musk acquired X.