The executive director of X, Linda Yaccarino, has said that “soon” users will be able to make investments or trades on the social networks platform, since she described an impulse to financial services in the search for the owner Elon Musk to build an “application of everything.”
“You can come to X and be able to make transactions all your financial life on the platform,” Yaccarino said in an interview at the Lions de los Cannes Advertising Festival. “And that is whether I can pay the pizza that we share last night or make an investment or trade. So that is the future.”
He added that the company was also exploring the introduction of a credit or debit card X, which could come as soon as this year.
The incursion of proposals in financial services comes as an musk to model the platform, which it bought in 2022, after the single window of China for messages, payments and purchases.
X has already said that he will present X Money, a digital wallet and a pairs payment service, with visa as his first partner at the end of this year.
Yaccarino added on Tuesday that X Money would be launched in the US. First before implementing in another place, and said the service would allow users to buy goods, store value or tips creators on the platform.
“A full trade ecosystem and a financial ecosystem will emerge on the platform that does not exist today,” he said.
However, a great boost to financial services would open to X until regulatory challenges, such as compliance with licenses and money laundering regulations.
X has fought to return to financial health after advertisers, who represent most of their income, have stayed in units after the acquisition of the $ 44 billion platform and then know as Twitter. Many concerns cited about its moderation approach, which means that your ads could be placed almost objectable content, as well as the provocative use of the provocative platform of the platform.
The tensions between the leadership of X and the advertisers have exploded. In the interview, Yaccarino responded against accusations that the social networks recently threatened brands with demands if they could not buy advertising in X.
He dismissed as “rumors”, a Wall Street Journal report last week, which said that half of the boxes of boxes, including Verizon and Ralph Lauren, had reached the agreements to buy ads after receiving threats. “They are unidentified sources, random third -party common ones,” said Yaccarino.
X filed a federal antimonopoly demand last summer against the global alliance for responsible media, a coalition of advertising brands and agencies, as well as several other brands. The Social Networks Company accused the Violation Group of the Competition Law by coordinating an “illegal boycott” under the appearance of an online security initiative.
Approximately X has added or eliminated several brands from the complaint. Uneilever left demand after restarting advertising on the social networks platform in October.
Yaccarino said that 96 percent of the company’s advertising clients before the acquisition had now returned to the platform, and that the company would reach its goal of returning to its advertising levels of 2022 “Super soon.”
Some advertisers and agencies in Cannes told FT that they were still cautious about publishing ads in X and skeptics that would achieve their objectives in the near future, pointing out the toxicity of the content on the platform.
Others had felt pressured to announce, according to people’s family with discussions, and one alleges that they told him to spend a specific amount or face a demand. Musk’s close relationship with US President Donald Trump had made advertisers feel more anxious to meet the demands, the person said.
The Emarketer research firm projects that X’s income will increase to $ 2.3 billion this year, compared to $ 1.9 billion of the year a year ago. However, global sales in 2022, when Musk Tok ends, were $ 4.1 billion.
Yaccarino also promoted plans to reinforce X artificial intelligence capabilities after Xai bought it, Musk’s artificial intelligence company, for $ 45 billion in March. She argued that the link would help deliver better advertising against the content of real time trends, and added that she now had “duplicate the number of engineers” working to improve the platform.