X Unveils Direct Trading Feature via Cashtags
Elon Musk's X has launched a new feature called Cashtag Trading Program, which allows users to directly trade stocks and cryptocurrencies from within the platform. The program is in partnership with major brokerages such as Coinbase (NASDAQ:COIN), Kraken, Gemini, and Interactive Brokers (NASDAQ:IBKR).
The feature works by allowing users to tap on a supported Cashtag, which then displays price information and conversation history related to that asset. Users can then select the 'Trade' option to continue to a participating brokerage's mobile app or website, where they can log in to their existing account or create a new one to complete the transaction.
Cashtags are essentially links to specific assets on X, making it easier for users to move from market discussions and live charts to participating trading platforms. According to Mridul Singhai, Product Engineering Lead at X, 'Cashtags close the gap between a ticker on the timeline and the market itself.'