Elon Musk says X will offer an ‘entire financial world’ in the coming months

Elon Musk shared an update for users with more information on Twitter's rebranding to X, saying it’s part of a larger plan to incorporate financial services on the platform. 

On July 25, Musk tweeted that his  X Corp enterprise acquired Twitter in the name of freedom of speech and to advance the development of his “everything app,” also to be called “X.” He hinted that in the coming months, users can expect to conduct their “entire financial world” on the platform.

He also mentioned the addition of “comprehensive communications” together with the financial services and extended posts did not fit the original ethos of Twitter and, therefore, merited the name change. 

The platform’s branding over to an “X” symbol on July 24.

In an interview, Musk said that if executed correctly, X has the potential to encompass “half of the global financial system” with plans for banking, payments and more. Some have likened the potential of the X app to be akin to China’s WeChat.

Prior to public awareness of the rebranding, Musk had been advocating for the integration of financial services onto the platform since  for $44 billion back in October 2022. 

In April, he, which caused the memecoin Dogecoin () to surge 20% in the hour following the stunt.

A few weeks after, CNBC reported that Twitter would introduce a new feature, in partnership with fintech platform eToro, that would allow users on the platform.

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Shortly after the rebrand, users noticed the Doge symbol had been added to Musk’s profile, which sparked rumors among the crypto community of for payments on the platform.

Despite Musk’s ongoing relationship with the crypto community via his championing of the memecoin, C to the rebranding of the platform.

Some in the community called the decision “insane” and that they would still call the platform by its old name, while others suggested keeping the Twitter name and using X as a wallet for the platform.

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