X, the social media company formerly known as Twitter, is seeking a financial-data giant to build a trading hub inside the app. This is according to a request for plans viewed by Semafor and people familiar with the matter.
“Real-time information is a powerful force, especially in the world of investing,” reads the request. The request was sent to big providers recently asking for proposals for financial content, real-time stock data, and other features.
When Elon Musk began Twitter’s transformation into X, one of the things on his card to also add was implementing consumer services. Musk wants X to become the next great super app, offering more than just social media outreach. He has said that he wants the platform to become “a global financial empire. An in-app trading hub on X will be a step in that direction.
Also Read: Twitter’s X To Become Half of the World’s Financial System: Elon Musk
According to Semafor, X offers the ability to reach “hundreds of millions of highly-qualified users.” The request tells interested bidders to say how much money they’ll commit to the project themselves. It isn’t clear which firms, if any, submitted proposals, which were due last week.
Elon Musk wrote on X in response to the news:
It is unclear whether this is to quiet down the news until a suitor is found, or if the request is all a fuss.
However, Musk’s previous comments on expanding X beyond just a social platform still stand. Enabling consumer services on the platform, including Dogecoin, would still fit the path that Musk is taking X on.