X's Cashtags Feature Generates $1B in Trading Volume Within Days of Launch

Gate News message, April 18 — X is integrating financial trading directly into its social feed through its new Cashtags feature, which has generated an estimated $1 billion in global trading volume within days of launch, according to X’s Head of Product Nikita Bier. The feature allows users to tap symbols like $BTC, $ETH, or $AAPL to instantly access live price charts, related posts, and market discussions without leaving the platform.

Cashtags is currently available to iPhone users in the U.S. and Canada as part of Elon Musk’s plan to transform X into a super app. Users can select a ticker symbol to view market data and engage in financial discussions directly within their timelines. According to The Kobeissi Letter, daily U.S. trading volumes have reached $1 trillion, with roughly 25% influenced by social media discussions, translating to $250 billion in daily trading volume.

X Money, a peer-to-peer wallet, is scheduled to begin early public rollout in April, though it remains unclear whether it will facilitate crypto transactions. Mizuho analysts have warned that regulatory hurdles may complicate X Money’s digital asset offerings. Wagers on Polymarket currently give Musk a 46% probability of meeting the April 30 deadline. Senator Elizabeth Warren stated that X’s planned payment system presents significant consumer, financial, and security risks requiring swift congressional action, adding that a 6% APY target might compel X to pursue riskier investment strategies.

X has also announced a test integration with Wealthsimple, a Canadian brokerage, enabling in-app trading directly from the platform. Users can select a ticker to view market data and complete transactions through their Wealthsimple accounts. Wealthsimple’s co-founder Brett Huneycutt described the integration as turning investment discussions on X into instant trading opportunities. The company clarified that the integration does not provide X access to Wealthsimple user data, with all trading remaining fully on Wealthsimple’s platform.