X’s Cashtags Feature Drives $1B Trading Volume

X's new Cashtags feature, which allows users to view live stock and crypto data directly within the app, has driven an estimated $1 billion in global trading volume since its launch on a Tuesday night. The feature is currently available to US and Canadian iPhone users and allows for direct interaction with asset tickers and smart contract addresses.

As part of Elon Musk's vision to transform X into an "everything app," the platform is expanding into financial services. While Canadian brokerage Wealthsimple has already integrated Cashtags to allow seamless trading, US-based platforms have yet to adopt the integration. Furthermore, X is developing "X Money," a peer-to-peer payment system that may eventually include yield-bearing accounts and cashback features, building on the company's recent acquisition of money transmitter licenses across dozens of US states.

(Source：Cointelegraph)