X’s Cashtags Linked to Wealthsimple, $1B Traded in Two Days

Nikita Bier, X’s head of product, wrote on X on Friday that aggregated data from the company’s trading pilot showed about $1 billion in global trading volume in the two days after the feature launched late Tuesday.

“Based on aggregated data from our trading pilot, X has driven an estimated $1 billion in trading volume globally since launching on Tuesday night,” Bier wrote.

Cashtags let users tap stock tickers and crypto smart contract addresses in posts to view live price charts and recent posts about the asset inside the app. The feature is available to iPhone users in the United States and Canada.

Wealthsimple has connected Cashtags to its Canadian trading platform. When Canadian users tap a Cashtag, the link opens Wealthsimple’s app or web platform so users can place trades. X has not connected Cashtags to any U.S. brokerage.

The Cashtags rollout is part of owner Elon Musk’s effort to add payments and commerce services to X. The company has piloted a peer-to-peer payments product called X Money and showed an external beta in March.

X has obtained money transmitter licenses in more than 40 U.S. states and registered with the Financial Crimes Enforcement Network. The company has not disclosed how crypto payments would work inside X Money.

X reports more than 550 million monthly users. Further broker partnerships, a wider rollout and regulatory details have not been announced.