X Social Media Searches for Financial Data Partner for Trading Hub: Report

<p>X platform, formerly known as Twitter, is reportedly
searching for a financial data partner to create a trading hub within the social
media platform. X has reportedly sent requests for bids for the proposed
project. According to a report by
the media publication Semafor, the requests were sent in recent weeks. </p><p>Musk Eyes Financial
Services</p><p>Thus, the social media
giant is rumored to be looking for big companies to provide financial content,
real-time stock data, among other services. In the proposal, the Elon
Musk-owned company reportedly asked interested bidders to state how much money they
could invest in the project. </p><p>Additionally, the social media giant is luring potential bidders, saying that the platform offers access to 'hundreds of
millions of qualified users'. </p><p>However, it remains
unclear which companies have submitted proposals to partner with the X platform. When asked for comments about the project, Musk responded that "no work is being done on this to the best of my knowledge."
Musk acquired Twitter for USD $44 billion last year and turned the company into
a private entity.</p><p>'Super App'
Plans</p><p>Last month, Musk <a href="https://www.financemagnates.com/cryptocurrency/elon-musk-unveils-new-twitter-logo-causing-crypto-craze/" target="_blank" rel="follow">rebranded
the platform</a>, changing the
iconic blue bird logo to an 'X' symbol. The changes are part of the
billionaire's vision to make the platform an 'everything app' offering a
variety of services. Musk reportedly envisions X to rival social media
platforms such as WeChat in China in offering consumer services like <a href="https://www.financemagnates.com/terms/p/payments/">payments</a>,
ride-hailing, or investments, under one app.</p><p>In April, eToro told
<a href="https://www.financemagnates.com/" target="_blank" rel="follow">Finance Magnates</a> that it had partnered with <a href="https://www.financemagnates.com/cryptocurrency/twitter-goes-deeper-into-trading-with-cashtags/" target="_blank" rel="follow">X platform</a> to integrate real-time asset prices
into the social media platform's Cashtag feature, which provides users
with live charts for stocks in collaboration with TradingView.</p><p>Commenting
about the partnership, Yoni Assia, the CEO and Co-Founder of eToro, said that
social media platforms were democratizing financial education. In particular,
Assia emphasized the importance of the X platform in retail investing.</p>

This article was written by Jared Kirui at www.financemagnates.com.