On Sunday, July 23rd, Elon Musk revealed that Twitter is going through a major refresh.
The platform’s bird logo is taking its leave, and so is the name Twitter. The bird logo has been replaced with the letter ‘X,’ and the same goes for the platform’s name.
Musk has said in the past that he wants to create an “everything app” that would offer more than just tweets, and the change in logo seems to be the beginning of that shift. As part of making an “everything app,” payments and banking features might be coming to the platform.
In a memo shared by CEO Linda Yaccarino with Twitter X employees, obtained by CNBC, Yaccarino wrote that the platform will keep developing experiences in video, audio, messaging, banking and payments that will “delight” users. “Please don’t take this moment for granted,” wrote Yaccarino. “You’re writing history, and there’s no limit to our transformation. And everyone, is invited to build X with us.”
The idea of adding banking features to Twitter has been circulating for a while. Considering Musk’s vision to make X the “everything app” and his payments background with PayPal, it wasn’t long before banking features made their way to the platform. As shared by The Financial Times, via Engadget, in January, Musk wanted to offer peer-to-peer transactions, savings accounts and debit cards to users, as well as tipping and shopping features. However, the project faced some setbacks after the executive in charge, Esther Crawford, left the company in February.
The memo suggests that Musk has not given up on his vision, However, it’s still unclear when said payment and banking features will make their way to X. Read the complete memo here.
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