Trading Directly on X Will Soon Be Possible in the US

X announces the launch of the "Cashtag Partner" program

For years, billionaire Elon Musk has been announcing the implementation of a "super-app" based on the X network, capable of centralizing a large portion of its users' digital lives (messaging, social media, payments, and other services), modeled after the Chinese giant WeChat.

This ambition clearly includes the recent announcement of the "Cashtag Partner" program, which aims to "link financial conversations on X to the ability to execute transactions through partner brokers."

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Currently, the service is only accessible to X network users residing in the United States. It relies on the famous "Cashtags," launched on Twitter back in 2012, adding a whole new dimension through partner platforms such as Interactive Brokers, Moomoo, Gemini, Kraken, and Coinbase.

With our Cashtag partners, we are bridging the gap between financial conversations and taking action. People come to X to discover what is happening, participate in discussions, and act in real time on the topics that matter to them. Our Cashtag partners allow for a seamless transition from discovery and conversation to a brokerage platform, without interrupting the experience.

Cashtags with Call to Action

In practice, Cashtags allow "transforming stock symbols for shares, ETFs, and cryptocurrencies into interactive spaces" to provide real-time financial data to X network users. This option is now supported by partner platforms, enabling users to "take action with a broker."

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When a user taps a supported Cashtag, they can view the asset's price chart and associated posts on X, then select "Trade" to be redirected to a partner broker. They can then log into their account or create one and complete their transaction.

This is a way to "bridge the gap between a stock symbol displayed in the X feed and the market itself," while benefiting from asset custody and regulatory compliance provided by the partner brokers, who are determined to turn this flow of financial conversations into a genuine acquisition channel.

Nevertheless, some critics point to the risk of too much speed in execution between viral content and the act of purchasing, particularly regarding the cryptocurrency market.

Source: X Business