June 21, 2024

X, by Elon Musk, previously referred to as Twitteris searching for assist to turn out to be a middle the place its customers can change shares, in line with Semafor.

Citing shut sources and a request for proposals, from Semafor they guarantee that the corporate has communicated with monetary information corporations in current weeks, in search of to acquire help for the mission.

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“Actual-time info is a strong power, particularly within the funding world,” the request learn. X requested for proposals associated to monetary info, corresponding to reside market information.

Semafor additionally notes that there isn’t any compensation plan in X’s utility, and that the corporate has requested firms how a lot cash they might be keen to place up. The deadline for submitting proposals ended final week, though the variety of proposals submitted shouldn’t be identified.

Musk needs to show Twitter into an app for the whole lot

The objective of turning the social community previously referred to as Twitter right into a inventory buying and selling hub shouldn’t be new. Since 2022, customers have entry to the choice to seek for monetary information utilizing so-called ‘Cashtags’discovered by typing a greenback signal and a inventory ticker image.

In April, Twitter additionally partnered with eToro to permit customers to commerce shares and different belongings, giving them entry to that platform. This risk has not but been enabled.

Musk had plans to create a go-to app for a wide range of companies, and in October, he tweeted: “Shopping for Twitter is an accelerator to constructing X, the app for the whole lot.”

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At Tesla’s annual shareholder assembly final yr, he mentioned he had huge objectives to make X “one thing helpful to the world.”

The billionaire additionally indicated in Might that he would possibly look to Tencent’s WeChat for inspiration, a Chinese language social media big, which is among the greatest tremendous apps on the earth.

“For those who’re in China, you reside on WeChat. It does the whole lot, type of like Twitter, plus PayPal, plus a bunch of stuff, multi functional, with a fantastic interface. It’s actually a superb app, and we don’t have something prefer it exterior of China,” he said.