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Twitter’s rebrand is officially X, and CEO Linda Yacarino has offered up some new clues about what it could mean for the company. In a memorandum reported by cnbcYacarino suggested that payments and banking features could feature prominently in Elon Musk’s new vision.
“Our utilization is at an all-time high and we will continue to delight our entire community with new experiences across audio, video, messaging, payments, banking – creating a global marketplace for ideas, goods, services and opportunities,” he wrote.
It has long been rumored that Musk is keen to bring banking features to Twitter. In January, financial Times He wanted to provide users with “fintech services such as peer-to-peer transactions, savings accounts and debit cards”, as well as additional tipping and shopping facilities. The paper reported that the company had applied for the necessary regulatory paperwork to offer such facilities in the US, but executives reportedly overseeing the project were in February.
Yacarino’s memo suggests those plans have been revived, though it skimps on specifics. Musk has previously talked about his desire to turn Twitter into a Similar to WeChat in China, where the messaging app is central to users’ daily activities.
Overall, Yacarino’s memo is particularly vague. He added that X would “go even further to transform Global Town Square” and cited recent updates and content made by the company. “Many companies say they want to move faster – but we enjoy moving at the speed of light, and when we do, it’s X,” he wrote. “With X, we serve our entire community of users and customers by working tirelessly to preserve free expression and choice, create limitless interactivity, and create a marketplace that enables economic success for all of its participants.”
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