Twitter CEO Linda Yaccarino has confirmed plans for banking and payment services in the company's X rebrand

In a memo to employees, Yaccarino revealed that the company plans to offer banking services as part of its push towards fintech. The X service will be a “global marketplace” that includes payments and banking.

The executive said Musk wants to get into the fintech business but keeping the social media segment at the center, as the new Twitter CEO highlighted in her memo to employees, which was released by CNBC’s website.

Hi team,

What a momentous weekend. As I said yesterday, it’s extremely rare, whether it’s in life or in business, that you have the opportunity to make another big impression. That’s what we’re experiencing together, in real time. Take a moment to put it all into perspective.
17 years ago, Twitter made a lasting imprint on the world. The platform changed the speed at which people accessed information. It created a new dynamic for how people communicated, debated, and responded to things happening in the world. Twitter introduced a new way for people, public figures, and brands to build long lasting relationships. In one way or another, everyone here is a driving force in that change. But equally all our users and partners constantly challenged us to dream bigger, to innovate faster, and to fulfill our great potential.

With X we will go even further to transform the global town square — and impress the world all over again.

Our company uniquely has the drive to make this possible. Many companies say they want to move fast — but we enjoy moving at the speed of light, and when we do, that’s X. At our core, we have an inventor mindset — constantly learning, testing out new approaches, changing to get it right and ultimately succeeding.

With X, we serve our entire community of users and customers by working tirelessly to preserve free expression and choice, create limitless interactivity, and create a marketplace that enables the economic success of all its participants.

The best news is we’re well underway. Everyone should be proud of the pace of innovation over the last nine months — from long form content, to creator monetization, and tremendous advancements in brand safety protections. Our usage is at an all time high and we’ll continue to delight our entire community with new experiences in audio, video, messaging, payments, banking — creating a global marketplace for ideas, goods, services, and opportunities.

Please don’t take this moment for granted. You’re writing history, and there’s no limit to our transformation. And everyone, is invited to build X with us.

Elon and I will be working across every team and partner to bring X to the world. That includes keeping our entire community up to date, ensuring that we all have the information we need to move forward.
Now, let’s go make that next big impression on the world, together.
Linda
Twitter CEO Linda Yaccarino’s message to staff about the ‘X’ rebrand

The move towards fintech is part of Twitter’s rebranding effort, which includes changing its name to X. The company aims to expand its offerings beyond social media and into the financial services industry. The details of Twitter’s banking and payment services are not yet clear, but the move is expected to bring new competition to the fintech industry.

Twitter’s large user base and global reach could make it a formidable player in the industry.

Twitter CEO Linda Yaccarino has confirmed plans for banking and payment services in the company’s X rebrand. The move towards fintech is part of Twitter’s effort to expand its offerings beyond social media and into the financial services industry. The details of Twitter’s banking and payment services are not yet clear, but the move is expected to bring new competition to the fintech industry. Twitter url will soon be x.com.