Nikita Bear, Product Lead at X, announced that the company will no longer execute trades or act as a broker. Instead, its focus will shift to developing financial data tools and connections. All trades initiated on the X platform will be sent to external brokers or exchange partners for execution. This marks X’s transition from directly providing trading services to becoming a platform that offers financial information and trading facilities. Bear also revealed that several new features, including “Smart Cash Tags,” will be introduced in the coming weeks. This feature will enable users to trade stocks and cryptocurrencies directly from their timeline, enhancing the ease and efficiency of the trading experience. Formerly known as Twitter, X has recently taken significant steps to strengthen its presence in the fintech sector by providing users with easy access to financial news, data, and analytics for better trading decisions. With the cessation of brokerage services, X aims to foster partnerships with other financial service providers. Although users will increasingly rely on external brokers, potentially adding steps to the trading process, the new features introduced by X are expected to streamline and accelerate trading. Overall, this move reflects X’s effort to diversify and integrate its financial services platform.
Source: binance
