X (formerly Twitter) is reportedly trying to become a “super app,” with integrated financial services that may or may not include crypto. This would align nicely with users’ and leaders’ fondness for crypto.
However, CEO Linda Yaccarino didn’t explicitly address these hopes. This sort of integration would require new regulatory challenges, which may be a long and difficult battle.
Could X Offer Crypto Trading?
Twitter has long held a special place in the crypto community, serving as a coordinating hub for enthusiasts and developers alike. Since Elon Musk purchased the platform in late 2022, he’s envisioned turning it into a “super app.”
Earlier today, Fortune claimed that this pivot might happen soon, thanks to a new push in momentum:
“You’ll be able to come to X and be able to transact your whole financial life on the platform. And that’s whether I can pay you for the pizza that we shared last night or make an investment or a trade. A whole commerce ecosystem and a financial ecosystem is going to emerge on the platform that does not exist today,” claimed CEO Linda Yaccarino.
She went on to describe a few specific components of this long-term vision. Musk looked to WeChat, a popular Chinese messaging app, as a model for X’s transformation.
The app would become a combined vehicle for messaging, payments, and shopping. It plans to integrate with Visa to open wallet services. However, these plans don’t mention a role for crypto in X’s new model.
To be clear, its owner, Elon Musk, is a huge crypto advocate, and his other firms hold significant Bitcoin reserves. From this perspective, it seems like a no-brainer to directly incorporate crypto trading into X.
After all, both the leadership and user base have a strong inclination towards the industry.
Unfortunately, it may not be that simple. For one thing, these services would require real cooperation from regulators. Elon Musk already attracted criticism over his crypto interests, even without counting X.
Moreover, he and President Trump had a legendary falling out earlier this month. Tensions may be quieter now, but their relationship hit a major setback.
All that is to say, the crypto community can hope to be part of X’s super app, but Yaccarino didn’t even hint at this. If such a thing becomes possible, it seems like an easy slam dunk for everyone involved.
For now, however, X might stick to the mantra of “under-promise and over-deliver.”
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