Elon Musk says X will offer an 'entire financial world' in the coming months
Elon Musk posted an update for users with more information on the rebranding of Twitter to X saying it is part of a larger plan to incorporate financial services on the platform.
On July 25, Musk tweeted that his enterprise X Corp acquired Twitter in the name of freedom of speech and to advance the development of his "everything app" also to be called “X.” He hinted that in the coming months, users can expect to conduct their “entire financial world” on the platform.
Twitter was acquired by X Corp both to ensure freedom of speech and as an accelerant for X, the everything app. This is not simply a company renaming itself, but doing the same thing.The Twitter name made sense when it was just 140 character messages going back and forth – like…
He also mentioned the addition of “comprehensive communications,” together with the financial services and extended posts did not fit the original ethos of Twitter and therefore also merited the name change.
Officially, the platform’s branding lost its blue bird and shifted over to the “X” symbol on July 24, 2023.
In an interview, Musk said that if executed correctly, X has the potential to encompass “half of the global financial system” with plans for banking, payments and more. Some have likened the potential of the X app to be akin to China’s WeChat.
X is finally arriving! X will be an "everything app" i.e. super app for U.S. (like WeChat of China)• Social: network, msgs, video, content• Finance: banking, payments, data"Overtime it would be HALF of global financial system" - Elon Muskpic.twitter.com/wWywAdYRZR
Prior to public awareness of the Twitter rebranding Musk has been advocating for the integration of financial services onto the platform since he acquired the platform for $44
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