- X plans a financial data hub within its app, seeking to disrupt traditional trading platforms.
- Ambitious move to become the first Western super-app.
- Speculation arises over Dogecoin integration as X introduces real-time stock data and innovative features.
The company formerly known as Twitter, now known as X, has announced plans to evolve into a financial data juggernaut. As outlined in a recent request for proposals, the company’s ambitions are to develop a comprehensive trading hub within its widely-used app, leveraging the sheer might of its hundreds of millions of highly-engaged users.
BREAKING: ? is launching an in-app trading platform.
Typically these platforms offer Stocks, Coins and Crypto.
Here’s what’s Elon is planning for ? (you won’t like this): pic.twitter.com/vbimD0DIUz
— zaimiri ✏️ (@zaimirii) August 3, 2023
The company’s vision, revealed in documents reviewed by an update outlet, Semafor, extends to seamlessly incorporating financial content, real-time stock data, and additional features into its platform. The proposal underscores the impact of instant data in the investment world and the invaluable advantage of a vast user base.
Instead of focusing on compensation, X challenges potential partners to indicate the amount they’re willing to invest in the venture. This innovative stance mirrors the firm’s resolve to take a different route, steering clear of traditional revenue models and financial partnerships.
Drawing parallels to the likes of WeChat, Gojek, Grab, and Gozem – successful “super-apps” that have changed how individuals in various parts of the world interact with technology, X seeks to be the pioneering Western equivalent. It’s easy to see how this could revolutionize existing trading platforms with its vision of offering diverse services on a single platform.
One intriguing development related to X’s ambition is the speculation around a potential Dogecoin integration. Fueled by the recent introduction of a feature that permits users to view live stock charts by merely searching a “cashtag”, rumors have been circulating the internet.
The growth of cashtag clicks by a staggering 51% over the past two months suggests that X’s strategy might be on the right track. In addition to attracting users, this functionality could provide a new revenue stream through collaborations with data startups like TradingView.