In brief
- X head of product Nikita Bier clarified how Smart Cashtags will work.
- People will be able to trade assets in-app, but X will not facilitate trades.
- Musk said earlier this month that X Money is being beta tested internally.
Elon Musk’s X is eyeing crypto users with its introduction of “Smart Cashtags,” but the company isn’t getting its hands dirty with digital assets yet, according to Head of Product Nikita Bier.
The feature, which was teased last month, will allow users to better specify which digital assets they post about, but it won’t facilitate users’ crypto trades, Bier clarified on Saturday.
Since Musk’s acquisition of the platform in 2022, speculation has abounded that the Dogecoin fan could fold crypto into his “everything app.” However, Bier signaled Smart Cashtags’ rollout is limited within the company’s broader vision for combining social media with financial services.
“X is not handling trade execution or acting as a brokerage,” Bier wrote on X, in reference to the debut of Smart Cashtags. “[We’re] just building the financial data tools and links.”
Although Smart Cashtags will work with stocks, the feature’s debut could have a more pronounced effect on Crypto Twitter where ticker symbols can overlap between digital assets, depending on which network they were issued on. With Smart Cashtags, users will be able to specify their ticker symbols down to a specific smart contract.
In a separate post, Bier wrote on Saturday that the feature will be rolled out “in a couple of weeks,” and it will enable users to trade stocks and crypto “directly from [the app’s] timeline.”
Previous descriptions of the feature entailed an in-app page, where prices, charts, price moves and related posts are shown in one place. That could make it easier for users to discover communities tied to specific digital assets, while alleviating ambiguity for users.
Musk signaled earlier this month that xAI’s long-awaited payments service is closer to being released. During an “All-Hands Meeting,” he said that “X Money” was being tested in beta form among employees, with plans to support a limited external beta in the coming months.
“This is really intended to be the place where all the money is, the central source of all monetary transactions,” Musk said. “It’s really going to be a game changer.”
The company has established a subsidiary called X Payments, which has secured money transmitter licenses in more than 40 U.S. states. Still, some lawmakers in New York have called on the company’s application to be denied, citing Musk’s cost-cutting efforts in government.
The company hasn’t indicated that the product will use crypto. A year ago, former CEO Linda Yaccarino said that X Money would debut later this year in partnership with Visa and allow users to connect their debit cards to make peer-to-peer payments. She resigned in July.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Solana Foundation Launches Token Search and Liquidity Aggregator Tokens on Solana
The Solana Foundation has launched Tokens on Solana, a token search and liquidity aggregator that consolidates various token variants of non-native assets, offering a one-stop search function and key data to help users identify the best trading opportunities. Additionally, it will utilize AI and manual curation to publish global news.
GateNews1h ago
Metaplex advances Korean Wave IP onto the blockchain, with K-pop and Korean dramas moving toward blockchain assetization
Metaplex Foundation has signed a Memorandum of Understanding with K Wave Media to jointly advance the "Gaon Project," which will transition K-pop, Korean dramas, and other Korean Wave cultural intellectual properties on-chain. The project encompasses four core pillars: intellectual property on-chain, global liquidity, fan community empowerment, and content distribution, with the aim of innovating the tokenization of Korean cultural IP and exploring new financing and content distribution models.
MarketWhisper2h ago
StableStock Launches Hong Kong Stock Trading Features, Supporting Stablecoin Direct Trading of 160+ Hong Kong Stock Targets
On March 17, StableStock launched Hong Kong stock trading functionality, supporting 160+ Hong Kong stocks and ETF trading, allowing users to trade directly with stablecoins. The platform partners with licensed broker HabitTrade, with fees close to traditional brokers, and complies with Hong Kong Exchanges and Clearing Limited trading hours.
GateNews2h ago
Privy Launches "Balance Rewards" Feature Powered by Morpho
Gate News report: On March 17, privacy wallet infrastructure platform Privy launched its "Balance Earnings" (Earn) feature. The feature is powered by Morpho, with risk strategies provided by Steakhouse Financial and Gauntlet, and will support Aave and Kamino in the future. The official statement indicates that users can deposit their application balances into curated DeFi vaults with just a few
GateNews2h ago
Stablecoin USDG Launches on Pendle, TVL Surpasses $46 Million and Participates in Limit Order Rewards Experiment
On March 16, Global Dollar Network and Paxos jointly launched the stablecoin USDG on the Pendle platform, with total value locked breaking through $46 million in a short period of time. USDG became one of the first assets to participate in Pendle's limit order rewards experiment, allowing users to earn yields of up to 8.90% through liquidity provision.
GateNews2h ago
T. Rowe Price Revises Cryptocurrency ETF Application, SUI Added to Expand Investable Assets
T. Rowe Price filed a revised S-1 application with the SEC on March 16, designating Anchorage Digital Bank as the custodian for its active crypto ETF and adding SUI to the list of qualified digital assets, demonstrating the company's further commitment to deepening its involvement in crypto investments. This revision enhances the ETF operational framework and addresses market volatility conditions.
MarketWhisper3h ago
