According to X’s Head of Product, Nikita Bier, the upcoming Smart Cashtags feature will enable users to trade cryptocurrencies and stocks directly via the social media platform.
X Users To Trade Crypto And Stocks Directly Through Their Timeline
In a February 14 post on the X platform, Bier confirmed that the social media platform will be rolling out a number of features in a couple of weeks. Most notably, Bier mentioned the Smart Cashtags feature, highlighting that it will allow users to trade crypto and stocks directly from their timeline.
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Prior to this confirmation, Bier had teased the launch of the Smart Cashtags feature earlier in January, hinting at the possibility of in-app trading. The X platform had initially introduced a basic Cashtag functionality in 2022, which tracked the prices of major stocks and cryptocurrencies and offered visual financial data for supported assets before it was discontinued.
It is expected that this upcoming Smart Cashtags will be an improvement on the existing $TICKER system, which allows users to prefix token tickers with a dollar sign in order to create a clickable link. The tags will show live price charts, related posts on X, and direct trading options.
In his Saturday post, which was in response to a thread about third-party crypto apps, Bier also addressed the issue of spamming, raiding, and harassment on the X platform.
Source: @nikitabier on X
Beer said:
I genuinely want crypto to proliferate on X, but applications that create incentives to spam, raid, and harass random users is not the way. It meaningfully degrades the experience for millions of people — only to enrich a few people.
Meanwhile, Christopher Park, director of X’s developer platform, said that all automation and spam through scraping and API will be flagged and eventually going forward. “No more bots/programs that do or incentivize large-scale platform manipulation, engagement farming, spam, & scraping,” Park said.
X Begins Beta Testing For Payments Feature
In another response, Bier clarified that X is not handling trade execution or acting as a brokerage platform, but rather just developing the financial data tools and links. Ultimately, this Smart Cashtags feature aligns with X’s financial services push and Elon Musk’s broader goal of making the platform an “everything app.”
The social media platform looks set to launch X Money, a digital feature that enables peer-to-peer payment. Musk revealed earlier this month at an xAI presentation that X Money has completed internal employee testing and is in a limited beta testing phase over the next two months before a worldwide rollout.
The price of BTC crosses $70,000 on the daily timeframe | Source: BTCUSDT chart on TradingView
Featured image by Beata Zawrzel/NurPhoto via Getty Images, chart from TradingView
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