Social media company X, formerly known as Twitter, is moving forward with plans to offer trading in Bitcoin (CRYPTO: $BTC) and other cryptocurrencies.
The privately held company led by Elon Musk has launched a new feature that enables U.S. users to trade digital assets through partner platforms such as Interactive Brokers (NASDAQ: $IBKR) and Gemini (NASDAQ: $GEMI).
Users tap a tag such as “$BTC” on X along with a “trade” button and then are taken to IBKR or Gemini where they can buy and sell crypto.
It’s the first step in X’s broader plan to offer stock and crypto trading directly on its platform. Elon Musk has said that he wants X to become an “everything app” complete with banking features.
X already offers real-time prices and charts for various cryptocurrencies such as Bitcoin and Ethereum (CRYPTO: $ETH).
The social media platform boasts 245 million global users across all devices and X is viewed as a hub for discussions related to crypto.
Posts on X about Bitcoin and other digital assets by influencers such as Elon Musk have been known to boost prices instantly.
Bitcoin is trading right around $86,000 U.S. on Sept. 22.
