Can X Become a Financial Super App?

Elon Musk’s rebranding of Twitter into X is part of an effort to create an expansive “everything app” that encompasses social media, e-commerce, payments and banking. The move is seen as necessary for Twitter’s transformation into a broader platform that facilitates a new range of opportunities. However, the shift from Twitter to X also raises questions about trust, especially in financial services. The regulatory complexities and the challenge of retaining user trust (along an increased potential for payment fraud) pose hurdles to Musk’s super app aspirations. The success of this approach, reminiscent of the East Asian super app WeChat, remains uncertain in the West.