The Elon Musk-owned social network on Wednesday launched a feature called Cashtag that will let U.S. users on X place stock trades via participating brokerages. Initial partners on the effort include Interactive Brokers, Moomoo, Gemini, Kraken, and Coinbase. The move takes advantage of what users on X have been doing for years: talking about stocks and, in more recent years, crypto.
In 2008, the financial platform StockTwits even came up with the idea for X-precursor Twitter’s Cashtags, which placed a dollar sign ($) in front of stock ticker symbols to make market conversations easy to find and reference. However, those Cashtags were about tracking the conversations around a particular stock, not actually trading them. Now that X has moved into the financial space with X Money, that’s changed.
Now, Cashtags, which turn ticker symbols for stocks, ETFs, and cryptocurrencies, will give X users the option to trade stocks. When you post or tap a ticker, you’re taken right to the asset, where you have seamless access to the live chart, the conversation around it, and now the ability to trade with one of our brokerage partners,” said Mridul Singhai, X Product Engineering Lead, in a statement shared with TechCrunch. To use the new feature, users who tap on a supported Cashtag will be able to view the asset’s price chart and related posts on X.
They can then tap “Trade” to continue at a participating brokerage. There, they’ll sign in and complete their trade. Users can also tap on a brokerage partner to reach their mobile app or website to log in to their existing account or .
People come to X to discover what’s happening, shape the conversation, and act in real-time on what matters to them,” Monique Pintarelli, SpaceXAI’s Head of Global Advertising, said in a statement. But one could argue that this is already happening on X today, even without the direct connection to brokerages.
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