Source: cryptoslate
Compiled by: Blockchain Knight
The social media platform formerly known as Twitter is about to launch a payments feature for its users, continuing its journey towards becoming a "universal app," said Linda Yaccarino, CEO of Company X.
Speaking at the Cannes Lions International Festival of Creativity in France, Yaccarino highlighted the innovative strides the company has made under her leadership since Musk acquired Twitter in 2022.
“We are laser-focused on the needs of our users,” Yaccarino said. “The vision and the speed of innovation we are experiencing is beyond words.”
Musk wants Twitter to become an "app that does everything," covering everything from banking to dating, and introducing payments is part of that vision.
The upcoming financial ecosystem aims to integrate various technical functions to provide users with many new experiences. The payment function is initially planned to support only "fiat currency", but as development proceeds, it is possible to support Crypto asset payments in the future.
This coincides with Musk’s enthusiasm for Dogecoin, although officials have not yet confirmed whether Dogecoin will be integrated.
X has already made great strides, having received three remittance licenses last July, laying the foundation for its new payment system.
Yaccarino stressed that this development will provide users with a range of new experiences, changing the way they interact and transact on the platform. She added: “There are so many new things waiting for us to experience, and once we launch the payment system, the financial system will appear on the X platform.”
In addition to payments, X also plans to launch other features, including video calling and job search capabilities. These new additions are part of a broader strategy to enhance the platform’s usefulness, making it a comprehensive destination for personal and professional networking.
Yaccarino became CEO in 2023 after Musk acquired Twitter in 2022.
Yaccarino, who has focused on strengthening the company’s technology capabilities to innovate and scale quickly, said the changes made to the platform have “exponentially” increased the amount of information available to users.
Under Yaccarino’s leadership, X has transitioned from a simple text platform to one that incorporates advanced features like artificial intelligence, audio calling, and video streaming.
In recent months, these changes have improved the platform’s time spent and user engagement metrics, showing positive growth trends.
Additionally, the return of major advertisers has also been a key factor in X’s recent success. Yaccarino noted that 90% of the top 100 advertisers have returned to the platform, indicating growing confidence in the platform’s new direction.
