X on Wednesday launched a Cashtag feature that lets U.S. users place stock trades from their timelines through participating brokerages.. Initial partners include Interactive Brokers, Moomoo, Gemini, Kraken and Coinbase. The feature applies to supported stocks, exchange-traded funds and cryptocurrencies..
Users who tap a supported Cashtag can see the asset’s price chart and related posts on X. They can then select “Trade” to continue at a partner brokerage, where they sign in and complete the transaction.. X said users can also tap a brokerage partner to open its mobile app or website, either to log into an existing account or create a new one..
“Cashtags close the gap between a ticker on the timeline and the market itself. When you post or tap a ticker, you’re taken right to the asset, where you have seamless access to the live chart, the conversation around it, and now the ability to trade with one of our brokerage partners,” Mridul Singhai, X product engineering lead, said in a statement shared with TechCrunch..
Cashtags have long been used on the platform to track market discussion by placing a dollar sign before stock ticker symbols. StockTwits created the concept in 2008 for Twitter, before the service was renamed X.. X tied the new trading function to its push into financial services through X Money.
Cashtags previously helped users follow conversation around an asset, rather than execute trades.. “With our Cashtag partners, we’re connecting the financial conversation to action. People come to X to discover what’s happening, shape the conversation, and act in real-time on what matters to them,” Monique Pintarelli, head of global advertising at SpaceXAI, said in a statement..
The launch may raise concerns about market manipulation by AI-driven bots, spammers and other bad actors on the platform, which already hosts active stock and cryptocurrency discussion.. Featured image credit. Tags: cashtagsx
