Elon Musk's X enters cryptocurrency trading! 700 million users transform into a super financial app

X Product Lead Nikita Bier confirms that the Smart Cashtags feature is actively being developed. In the future, clicking on $BTC or $ETH tags will allow users to view real-time prices and execute trades directly. Elon Musk is transforming X into a super app: social, digital wallet, and financial trading. X Money is a key infrastructure, with 700 million users and crypto KOLs concentrated here. CZ’s direct involvement indicates high industry attention.

Smart Cashtags Redefine Cryptocurrency Trading Entry

X’s product lead Nikita Bier recently publicly confirmed that the platform is advancing the Smart Cashtags feature. Going forward, seeing BTC, ETH, or stock symbols on X will no longer be just hashtag topics but clickable asset entry points. This feature will support displaying real-time prices, trends, and basic market data. Clicking will lead to a more comprehensive asset page, and in the future, users will be able to directly jump to or complete buy/sell operations for cryptocurrencies and stocks.

This step is very critical. The official signals are very clear: users will have the opportunity to buy and sell cryptocurrencies and stocks directly on X in the future. This means X is shifting from a “discussion platform for assets” to an “actual trading gateway.” Although currently still an entry-level design, the product direction is already very clear.

The revolutionary aspect of this design is that it lowers the cognitive threshold for cryptocurrency trading. Currently, ordinary users need to go through: register on an exchange → KYC verification → deposit funds → learn the trading interface → place orders, a process that can take hours or even days. Smart Cashtags could simplify this process to: see BTC discussion on X → click the tag → buy directly, all within minutes.

More importantly, X controls the most valuable assets in crypto: information flow and sentiment flow. When users see a token’s hot discussion on X and the sentiment is high, providing a trading entry immediately can significantly increase conversion rates. This “seamless connection from information to trading” is an advantage that traditional centralized exchanges (CEX) cannot replicate.

Three Core Functions of Smart Cashtags

Real-time Market Data: Click on BTC to see live prices, 24-hour change, and trend charts

Asset Detail Page: Offers more comprehensive technical analysis, news aggregation, and community discussions

One-Click Trading: Future capability to buy/sell directly within X or jump to partner exchanges

Placing this feature within Elon Musk’s overall strategy over the past one or two years reveals a very clear direction: X aims not just to be a stronger social platform but a “super app,” with finance as its core component. When you connect these three elements—social information flow (X), digital wallet (X Money), and trading gateway (Smart Cashtags)—it becomes evident that Musk is building a complete financial ecosystem.

700 Million Users to Build a New Cryptocurrency Trading Dominance

Crypto assets are the most accessible entry point for Musk to penetrate finance. On one hand, the main information dissemination, narrative development, and influence of KOLs in the crypto industry are almost entirely concentrated on X. Industry leaders like Brian Armstrong (Coinbase), CZ (Binance), and Vitalik Buterin (Ethereum) are active users of X; a single tweet from them can trigger hundreds of millions of dollars in capital flow.

On the other hand, crypto assets are inherently “digital-native” financial instruments, capable of deep integration with wallets and payment systems without complex traditional banking interfaces. Compared to stock trading, which requires broker licenses, banking interfaces, and clearing systems, crypto trading only needs to connect to blockchain nodes and liquidity providers.

Currently, X has 700 million users, mostly in developed countries in Europe and America. This user base far exceeds any single crypto exchange. The largest compliant US crypto exchange has about 100 million monthly active users, while Binance has around 200 million. If X successfully converts 10% of its 700 million users into crypto trading users, that would create 70 million new traders—equivalent to recreating the largest compliant US crypto exchange.

More critically, X’s user stickiness is extremely high. Users spend hours daily browsing information and participating in discussions on X. This high-frequency interaction creates an ideal scenario for cross-selling financial services. When users see a BTC tag showing rising prices while browsing tweets, and can buy instantly, the conversion rate will be greatly improved. The crypto industry is highly期待 this feature, with even CZ sharing and retweeting related news.

Three Key Challenges from Concept to Implementation

Of course, everyone should not rush. Currently, both Smart Cashtags and trading capabilities are not fully launched. At this stage, what’s more is the strategic direction released by product leaders and some features still in testing or early development. From concept to actual deployment, Musk still faces multiple challenges.

First is regulatory compliance. Providing crypto trading services in the US requires obtaining state-level Money Transmitter Licenses, which is a very complex licensing process. The largest compliant US crypto exchange took years to obtain full licenses across all 50 states. If X wants to offer trading services, it must follow a similar compliance path or partner with licensed exchanges as liquidity providers.

Second is technical infrastructure. Crypto trading involves complex stacks such as wallet management, private key security, trade matching, and asset custody. While X Money is under development, whether it can support large-scale, secure, and stable crypto trading remains to be verified. Additionally, X must decide whether to adopt a custodial or non-custodial model, each with fundamental differences in security, user experience, and regulatory compliance.

Third is business model and conflict of interest. If X offers crypto trading, it will involve revenue from fees, market maker collaborations, and order flow payments. How to maintain neutrality and avoid manipulating user trading behavior will be an ethical challenge for Musk. If X takes a cut from user trades, will it affect its credibility as a neutral information platform?