Elon Musk Aims to Transform X into a Central Financial Hub by 2024

According to Cointelegraph, Elon Musk's venture, X (formerly known as Twitter), is aiming to position itself as a central financial hub. During an inaugural all-hands meeting on October 26, Musk shared his vision for transforming the platform into a financial hub with a roadmap to implement new features by the end of 2024. He envisions X as an all-encompassing financial platform, covering every aspect of users' financial lives, from money and securities to eliminating the need for traditional bank accounts.Musk is taking a hands-on approach, overseeing all feature developments and strategizing premium offerings for the brand. The focus is not only on revenue generation but also on positioning X as a versatile, all-round platform for users. According to another report, Musk revealed that online platforms such as YouTube, LinkedIn, and Cision PR Newswire are seen as potential competitors to X as it progresses toward becoming an all-in-one app. Musk and Linda Yaccarino, X's CEO, unveiled a strategy to introduce a news wire service named XWire, positioning it as a potential competitor to Cision PR Newswire.In a recent blog post, Linda Yaccarino discusses the progress and advancements that the platform has achieved over the past year. She mentions notable products like Community Notes, Audio and Video calling, and the upcoming addition of a $1 payment feature to the platform. Furthermore, on October 27, Elon Musk provided an update, announcing that X is exploring the possibility of live-streaming company discussions.