Elon Musk — the CEO of Tesla and SpaceX and proprietor of X, previously referred to as Twitter — speaks throughout The New York Times’ annual DealBook summit in New York City, Nov. 29, 2023.
Michael M. Santiago | Getty Images
Elon Musk’s social media platform X, previously referred to as Twitter, introduced it’ll launch peer-to-peer payments this year, in accordance to a Tuesday blog post.
X mentioned the payments will unlock “extra consumer utility and alternatives for commerce” because the platform works to “revolutionize 2024.” The weblog put up didn’t supply particular particulars about how the payments will work or when they are going to formally launch.
Introducing peer-to-peer commerce to the platform would mark the most recent 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 “everything app” the place customers can perform a wide range of capabilities, from posting to managing funds.
In a post on X in July, Musk mentioned the corporate deliberate to add “complete communications and the flexibility to conduct your complete monetary world.” Months earlier, X introduced a feature in partnership with eToro, a social buying and selling firm, that enables customers to entry cryptocurrencies, shares and different varieties of monetary belongings.
The firm mentioned it’ll additionally introduce extra unique content material and expertise, proceed to spend money on creators and content material partnerships and strengthen advertisements this year, in accordance to the Tuesday weblog put up.
“X isn’t just one other app — it is changing into the the whole lot app, seamlessly uniting experiences into one interface, for everybody,” the corporate wrote.
X didn’t instantly reply to CNBC’s request for remark.