X partners with Coinbase, Kraken and three other platforms to make trading easier
X accelerates its approach to trading. The social network is partnering with Coinbase, Kraken, Gemini, Interactive Brokers and Moomoo to allow users to access trading platforms more easily from the Cashtags shown in posts. A new step that brings market discussions closer to order execution.
X adds a « Trade » button to dedicated Cashtags for stocks, ETFs and cryptocurrencies.
In the United States, the feature provides access to five partners: Interactive Brokers, Kraken, Coinbase, Moomoo and Gemini.
The user is still redirected to the broker or exchange to place their order. As a result, X does not become a brokerage platform.
Cashtags now lead to cryptocurrency trading
For several months now, Cashtags have allowed users to check the price of a stock or a cryptocurrency directly on X. In April, the social network had already begun offering charts, market data and the associated posts for certain tickers on iPhones in the United States and Canada.
The new « Trade » button adds an additional step. After clicking a Cashtag, the user can view the chart and then choose the trading option. They are then directed to the selected partner’s website or app to place their order.
The assets cover both traditional finance and the crypto market. Among the partners are Interactive Brokers and Moomoo for financial markets, as well as Coinbase, Kraken and Gemini for crypto.
X’s interest is fairly clear: a discussion about bitcoin, a stock or an ETF can now lead much more quickly to a trading platform. The social network is thus seeking to reduce the distance between discovering an asset and taking action.
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