Elon Musk rebrands Twitter to X and targets to offer expanded services in the financial world in subsequent months. The update conveyed to the users revealed that Twitter’s rebranding to X constitutes a critical milestone for his larger plan to include numerous financial services akin to the WeChat portfolio.
The Tesla Inc chief executive informed his followers in a Tuesday, July 25 tweet that X Corp successfully acquired Twitter prompting the rebranding to X. He added that the acquisition aligns with the freedom of speech integrated with the intent to advance the Everything app project labeled X.
The Space X chief executive signaled that users should, in a few months, start executing loads of financial world services on the X platform. The electric automaker mogul added that the X platform would feature a comprehensive communications blend with financial services and longer posts. The additions would not fit Twitter’s original ethos, hence meeting the rebranding to X.
Musk Set to Replicate Services Offered by WeChat
Musk fulfilled the promise with the platform replacing the blue bird with an X symbol starting Monday, July 24. Musk disclosed in an interview that X execution would bolster the potential to support half of the services comprising the global financial system. He stated the plans to integrate payments and banking services within the platform. Its accomplishment would yield a comprehensive X application that could mirror China’s WeChat.
Beyond rebranding, Musk has signaled the inclusion of financial services within Twitter’s platform. The journey to today’s X platform began when Musk completed Twitter’s $44 billion acquisition in October 2022.
In the past, Musk has explored various changes toward the current rebranding. A notable adjustment is the temporary swap of the blue bird with the DOGE. The April change triggered a rally in the memecoin Dogecoin price by 20%.
Weeks later, Musk would oversee the introduction of new features, as reported in a CNBC publication. The move involved Twitter partnering with the Israeli fintech platform eToro. Its integration would enable users to execute stocks and cryptocurrency trading.
Dogecoin Features in Musk’s Rebranded Platform X
Users would admit to noticing the inclusion of the Doge symbol hours after the rebranding in Musk’s profile. The inclusion prompted speculators to project the inclusion of Dogecoin to facilitate payments on the platform.
The move by Musk attracted mixed reactions from the crypto community aware of his advocacy for the Dogecoin memecoin. Some members of crypto Twitter termed the move as insane. They insisted on calling the platform by its initial old name. Another contingent urged Musk to consider retaining the Twitter name and instead utilizing X as the platform’s wallet.
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