C.E.O. of Tesla, C.E.O. of SpaceX and C.T.O. of X Elon Musk speaks in the course of the New York Instances annual DealBook summit on November 29, 2023 in New York Metropolis.
Michael M. Santiago | Getty Photographs
Elon Musk’s social media platform X, previously generally known as Twitter, introduced it can launch peer-to-peer funds this 12 months, in response to a Tuesday blog post.
X mentioned the funds will unlock “extra consumer utility and alternatives for commerce” because the platform works to “revolutionize 2024.” The weblog publish didn’t provide particular particulars about how the funds will work or when they may formally launch.
Introducing peer-to-peer commerce to the platform would mark the newest sweeping change at X since Musk acquired the corporate for $44 billion in late 2022. Musk, who can also be the CEO of Tesla and SpaceX, has been pushing to rework X into an “all the things app” the place customers can perform a wide range of features from posting to managing funds.
In a post on X in July, Musk mentioned the corporate deliberate so as to add “complete communications and the flexibility to conduct your total monetary world.” Months earlier, X launched a function in partnership with eToro, a social buying and selling firm, that permits customers to entry cryptocurrencies, shares and different varieties of monetary property.
The corporate mentioned it can additionally introduce extra unique content material and expertise, proceed to put money into creators and content material partnerships and strengthen adverts this 12 months, in response to the Tuesday weblog publish.
“X isn’t just one other app – it is turning into the all the things app, seamlessly uniting experiences into one interface, for everybody,” the corporate wrote.
X didn’t instantly reply to CNBC’s request for remark.
