Elon Musk Takes a Page from WeChat: X Accelerates Its Transformation into a Financial Super App with Investing, Credit Cards, and Digital Wallets
The social media platform X (formerly Twitter), owned by billionaire Elon Musk, is rapidly accelerating its transformation into a Western-style super app — similar to WeChat in China. With ambitions to consolidate messaging, payments, commerce, and financial services into a single platform, Musk is steadily turning X into the next digital financial hub. Investing, trading, and the X card are rolling out Speaking at the Cannes Lions International Festival of Creativity on June 19, X CEO Linda
The social media platform X (formerly Twitter), owned by billionaire Elon Musk, is rapidly accelerating its transformation into a Western-style super app — similar to WeChat in China. With ambitions to consolidate messaging, payments, commerce, and financial services into a single platform, Musk is steadily turning X into the next digital financial hub.
Investing, Trading, and the X Card Are Rolling Out
Speaking at the Cannes Lions International Festival of Creativity on June 19, X CEO Linda Yaccarino announced that users will soon be able to invest in and trade financial assets directly on the platform.
Beyond that, Yaccarino revealed that X is exploring the launch of an X-branded credit or debit card, potentially debuting later this year. This would be a pivotal step toward integrating a full financial ecosystem into X — moving closer to the "Everything App" model Musk has repeatedly touted.
X Money and the Western WeChat Ambition
A key piece of the puzzle is X Money — a digital wallet and peer-to-peer (P2P) payment service — announced alongside a strategic partnership with Visa.
According to Yaccarino, X Money will launch first in the U.S. before expanding globally. The service goes beyond payments and money transfers: it will also allow users to store funds and tip content creators — creating a unified financial-commerce-social ecosystem.
"A complete financial ecosystem will exist right here on this platform," Yaccarino said. "From paying for last night's pizza to making an investment — it'll all happen inside X."
The Big Hurdle: Licenses and Regulation
Aggressively expanding into financial services also means X will face stringent regulatory challenges — from financial licensing requirements and compliance with anti-money laundering (AML) rules, to safeguarding user data.
If X can't clear these regulatory hurdles, Elon Musk's super app ambitions could be significantly delayed.
Ad Revenue: Still Not Back to Where It Was
After Elon Musk took over Twitter and rebranded it as X, the platform lost a significant number of advertisers over concerns about content policy and controversial statements. While Yaccarino claims that 96% of advertising partners have returned, a Financial Times report suggests many brands remain cautious.
📊 X's projected 2025 revenue is $2.3 billion, up modestly from 2024 ($1.9 billion), but still well short of the $4.1 billion recorded in 2022 — before Musk's takeover.
Brand Relationships Remain Tense
The relationship between X and major brands remains fraught. According to The Wall Street Journal, some large brands including Verizon and Ralph Lauren only agreed to return after receiving litigation threats from X.
Yaccarino denied these allegations, dismissing them as "rumors" from anonymous sources and off-the-record commentary.
Bottom Line
With a string of strategic moves — from X Money and the Visa partnership to expanding into investing, trading, and card issuance — Elon Musk is steadily turning X into the "WeChat of the West": a social financial super app.
But to get there, X will need to clear regulatory hurdles, win back advertisers, and — most critically — rebuild trust with its users.
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