Social media platform X has generated approximately $1 billion in trading volume from its new Cashtags feature, which lets users access stock and cryptocurrency data directly within the app.
In a post on Friday, X’s head of product, Nikita Bier, said the milestone was reached just days after the feature’s Tuesday night launch, based on data compiled from the platform’s trading pilot.
The feature—currently limited to iPhone users in the US and Canada—fits into Elon Musk’s broader plan to transform X into an “everything app,” expanding into areas like peer-to-peer payments and e-commerce.
With more than 550 million monthly users, X ranks among the world’s largest social platforms, giving it a strong position to rival traditional financial data providers in delivering market insights and information.
Cashtags let users tag a specific asset or smart contract address in a post; tapping the tag opens live price charts along with related discussions.
X has partnered with online brokerage Wealthsimple to support the feature in Canada, allowing users to tap stock or crypto tickers and be redirected straight to the trading platform. A similar integration with a US brokerage has not yet been announced.
Meanwhile, the company is also developing X Money, a peer-to-peer payments system expected to include features like yield-bearing accounts and a cashback debit card.
An external beta of X Money launched in early March, demonstrating transactions between Musk and actor William Shatner, best known for his role as Captain Kirk in the original Star Trek series. It’s still unclear whether crypto payments will be part of the system.
In recent years, X has obtained money transmitter licenses in more than 40 US states and registered with the Financial Crimes Enforcement Network, laying the groundwork for peer-to-peer payments on the platform.
