Users can interact with stock symbols in messages and make trades within the app, the company’s head of product development said.
Elon Musk’s social media platform
The new features, announced by Nikita Bier, the company’s head of product development, include ‘Smart Cashtags’. It allows users to interact with stock symbols in messages and make trades from within the app.
This announcement now coincides with the launch of a third-party beta version of X Money, the company’s internal payment system. Musk said the device is already undergoing internal testing and will be available to a limited group of users within a month or two.
The idea started with X as a one-stop platform where users can message, post, send money and invest, Musk said: “everything app‘ as a variation on his vision. He likened the introduction of financial tools like X Money to adding banking services to the app, saying users will eventually be able to manage most of their daily digital activities without leaving the platform.
The tickers will be the main component
Also Nikita Bier, head of product development at X posted Saturday about the Smart Cashtags feature, which allows users to view stocks and cryptocurrencies directly from their timeline.
Bier also promised that serious efforts will be made to combat apps that post spam messages or encourage robberies and harassment.
“I sincerely want cryptocurrencies to spread on X, but apps that create incentives to spam, rob, and harass random users are not the way to go.Bier wrote in an X-post. “And yes, in a few weeks we will be launching a number of features, including Smart Cashtags, which will allow you to trade stocks and cryptocurrencies directly from your timeline.”
Bier later clarified in a follow-up post that the platform was not “carry out transactions and not act as a brokerage firm. It just builds financial data and links.” Christopher Park, director of X’s developer platform, added in his own post about “No more bots/programs that engage in or encourage large-scale platform manipulation, spamming and data collection.”
Smart Cashtags build on X’s existing $TICKER system, where users add dollar signs to symbols to create clickable links. In the new system, users can specify the address of the exact device or smart contract when publishing a ticker. Tapping the tag will reveal live price charts, related posts on the platform, and instant trading opportunities. Previous mock-up designs also showed integrated “Buy” and “Sell” buttons in addition to the exchange rate data.
Bier said Smart Cashtags’ API will work in near real-time for all on-chain tokens. This also paves the way for smaller, decentralized, exchange-listed tokens alongside major stocks like $NVDA.
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