x, The company formerly known as Twitter introduced “Cashtags,” which associate a stock (e.g. $AAPL or $BTC) with additional data, such as trading information. At the same time, X revealed a partnership with Canadian brokerage WealthSimple.
WealthSimple clarified the process:
“The Smart Cash Tags feature allows traders who are already using X to more easily access the Wealthsimple trading platform. This is an optional feature; when someone taps a checkmark in
Head of Product X in a post on the platform Nikia Beer announced the new feature. Bier said:
“𝕏 has always been the best source of financial news for traders and investors. Billions of dollars are allocated every day based on what people read on Timeline. Today, we are launching our new product. Cash Tags Available on iPhone in the US and Canada, this feature brings real-time financial data to the X.”
While it’s initially available in the US and Canada, Bier said a global launch, as well as web and Android, will be coming soon.
The Cashtag feature includes affiliated posts discussing stocks or cryptocurrencies as well as presence in X. Bier noted that Cashtags is a “first step” in serving the financial services industry, including crypto. Regarding the WealthSimple partnership, Bier said: ““This is just a small preview of what’s to come.”
X owner Elon Musk has long expressed interest in creating an “Everything App” that combines already powerful communications features with other services. Fintech has always been a target.
In fact, X wanted to obtain government money transmission licenses some time ago but has not yet taken any action regarding approvals.
A partnership model for
Owner Musk maintains his relationship with X and provides extraordinary interaction by frequently posting on the platform. Before the acquisition, Twitter had become a one-sided platform that acted as an extension of the Democratic party, removing posts that did not align with left-leaning policies. Musk decried the end of free speech and has since created a much more robust news and discussion ecosystem.
