CEO of X Corp hinted at launching trading and investment features on social media.

The CEO of X Corp, Linda Yaccarino, stated that users of the social network will soon have the opportunity to trade and invest on the platform. This is reported by the Financial Times.

She also added that X Corp. is considering the possibility of issuing a bank card. This could happen as early as 2025, although Yaccarino did not disclose any details.

The card will likely be linked to the peer-to-peer payment service X Money, as it is partnered with Visa. It will allow users to pay for goods and services on the platform, as well as donate to content creators.

At the initial stage, the service will be available only to users in the USA. However, later on, its coverage is planned to be significantly expanded.

During the interview, Yaccarino also commented on the alleged issues the social network has with advertisers. Recall that billionaire Elon Musk acquired Twitter ( now X) in the fall of 2022.

Following this, he initiated numerous changes and personnel reshuffles as part of a large-scale strategy to create an “everything app.” By June 2023, according to press estimates, the market value of the social network had fallen by 60%.

In September 2023, Yaccarino claimed that 90% of the advertisers who left after the deal with Musk had returned to the platform. In a new interview with FT, she stated that the number of such partners had increased to 96%.

According to her, the platform will “very soon” reach the advertising revenue level of 2022. However, the advertisers whose comments were requested by the FT publication responded to this forecast with skepticism.

In early June, the publication The Wall Street Journal published an article stating, citing its sources, that X Corp. threatens legal action against those partners who do not wish to purchase advertising on the platform. Yaccarino denied this.

She also commented on the purchase of the social network by the startup xAI, which is also owned by Musk. She positively assessed the integration of AI-based solutions into the platform’s functionality.