Source: Blockchain Knights
X CEO Linda Yaccarino said the social media platform, formerly known as Twitter, is about to launch a payment feature for users, continuing its journey towards becoming a "universal app".
Speaking at the Cannes International Creativity Festival in France, Yaccarino stressed the innovative progress Twitter has made under her leadership since Musk acquired it in 2022.
"We are focusing on the needs of our users. The vision and the speed of innovation of the company is beyond words," said Yaccarino.
Musk wants Twitter to become an "app that does everything" covering a variety of services from banking to dating, and the introduction of a payment feature is part of Musk's vision.
The upcoming financial ecosystem aims to integrate various technological features to provide users with many new experiences. The payment feature is initially planned to support only "fiat currencies", but as development proceeds, it is possible to support Crypto asset payments in the future.
This coincides with Musk’s enthusiasm for Dogecoin, although officials have yet to confirm whether it will integrate Dogecoin.
X has already made great progress, having received three remittance licenses in July last year, laying the foundation for its new payment system.
Yaccarino stressed that this development will provide users with a range of new experiences that will change the way they interact and transact on the platform. She added: “There are so many new things waiting for us to experience, and once we launch the payment system, the financial system will appear on the X platform.”
In addition to payments, X also plans to launch other features, including video calls and job search functions. These new features are part of a broader strategy to enhance the platform’s usefulness, making it a comprehensive destination for personal and professional networking.
Yaccarino became CEO in 2023, after Musk acquired Twitter in 2022.
After taking office, Yaccarino focused on enhancing the company’s rapid innovation and expansion of technical capabilities. She said the changes made to the platform have “exponentially” increased the amount of information available to users.
Under Yaccarino’s leadership, X has transitioned from a simple text platform to one that incorporates advanced features such as artificial intelligence, audio calling, and video streaming.
These changes have improved the platform’s usage time and user engagement metrics in recent months, showing positive growth trends.
In addition, the return of major advertisers has also been a key factor in X’s recent success. Yaccarino noted that 90% of the top 100 advertisers have returned to the platform, indicating growing confidence in the platform’s new direction.
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