Elon Musk's social media platform is developing a “Smart Cashtags” feature to be released next month that may give users access to real-time price movements of cryptocurrencies and stocks.
One of the concept screenshots also hinted at a highly anticipated in-app trading feature.
In a post to
“X is the very best source of monetary news — and based on the things people read here, a whole lot of billions of dollars are being spent,” Bier said, adding that X goals to assemble feedback before releasing the feature publicly in February.
Display of the planned Smart Cashtags function from X. Source: Nikita Bier
Integrating finance into X has been a part of Elon Musk's vision to remodel the social media platform into an every part app since his acquisition in October 2022.
X's second attempt at a Cashtags feature
X launched a Cashtags feature in December 2022 that displays Bitcoin (BTC) and Ether (ETH) price charts, in addition to top stocks and exchange-traded funds. However, this feature was later removed.
These charts were from TradingView and included a “View on Robinhood” link.
The planned “Smart Cashtags” appear so as to add more functionality, with “Buy” and “Sell” buttons visible in an idea photo. However, there isn’t a information on how this could work or when such a feature can be introduced.
X has now secured money transmitter licenses in at the very least 25 US states, nevertheless it shouldn’t be clear how close the social media platform is to enabling payments, including crypto-based payments.
Cointelegraph reached out to X for comment but didn’t receive an instantaneous response.
Rumors say that X is silencing crypto content
This comes a few day after the crypto community accused the social media platform of suppressing legitimate crypto content while allowing a deluge of spam to dominate feeds.
Bier responded to the backlash in a now-deleted X post, calling the criticism a myth.
Musk said his team plans to open source X's advice algorithm inside the following week.
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