Elon Musk aims to expand investments in the X platform: the new financial ecosystem

Elon Musk’s strategy to transform X into a comprehensive financial destination is progressing rapidly. Recently, Linda Yaccarino, the platform’s CEO, shared at the Cannes Lions festival details about how the service will soon allow users to make investments and transactions directly within the ecosystem. “Soon you will be able to live your entire financial life on X,” Yaccarino declared during the event, opening the door to a transformation that could redefine the platform’s role in the daily lives of millions of users.

This move aligns with Musk’s broader vision: turning X into a true super app, similar to WeChat in China, where users can manage everything from peer-to-peer payments to investments, all in one place. The ambition is clear: transform a social network into a full-service financial platform.

X Money: the strategic partnership with Visa

The development of X Money marks an important milestone in this transformation. Throughout 2024, X established a partnership with Visa to create a digital wallet and peer-to-peer (P2P) payment service. This collaboration provides the infrastructure needed for users to store value, conduct peer-to-peer transactions, send payments to content creators, and even access pay-per-view (PPV) events.

The partnership with Visa is no coincidence: it positions the platform uniquely to scale financial services in a regulated and reliable manner. Backed by a world-class payments company, X can offer its approximately 560 million users an entry point to services that previously required third-party involvement.

Toward the super app model: the example of WeChat

Yaccarino was explicit in mentioning WeChat as a reference. The Chinese app not only connects people but also enables payments, shopping, investments, and financial services without leaving the platform. Musk’s goal is to replicate this model in the Western world, creating an ecosystem where users never need to leave X to manage their financial needs.

This approach represents a paradigm shift. Instead of merely being a social network for sharing messages and content, X would evolve into a platform rivaling fintech apps and digital banks. Integrated investing would be just one piece of this larger puzzle.

The role of cryptocurrencies: the unanswered question

Given Elon Musk’s history with the crypto ecosystem, many observers speculate about what role cryptocurrencies will play in this financial expansion. Musk’s fondness for DOGE is well known, as is Tesla’s position in Bitcoin, with approximately 11,500 BTC (valued at around $1.2 billion a few years ago) in its corporate holdings.

Crypto sector analysts anticipate that any integration of financial services into X will likely include options related to digital assets. However, X has not yet provided specific details on how cryptocurrencies would be incorporated into this super app vision. The company also has not responded to recent inquiries about these plans.

What’s coming: an ongoing transformation

X’s expansion into investments and financial services is not an isolated experiment but part of Musk’s coherent strategy to reimagine what a social media platform can be. With X Money already in development and Visa’s support, the foundations are in place. The real test will be how users adopt these new capabilities and whether regulations will allow the platform to further expand its global financial services.

For Musk, the ultimate goal is clear: X should not only be where you share your thoughts but also the place where you live your digital life, including your financial life.