X’s Cashtags Powered an Estimated $1B in Trading

X’s Cashtags feature generated an estimated $1 billion in global trading volume since it launched Tuesday night, X Head of Product Nikita Bier wrote on the platform on Friday. The feature displays stock and cryptocurrency data directly in timelines for iPhone users in the U.S. and Canada.

Bier posted that the figure comes from “aggregated data from our trading pilot,” but he did not provide a breakdown of how the volume was measured or which assets accounted for the activity. The company has not released detailed metrics on user adoption, asset mix or transaction counts.

X has stated Cashtags will not execute trades or operate as a brokerage. The company plans to build financial data tools and links that send users to external execution venues rather than processing transactions on the platform itself.

Announcing the feature, Bier wrote, “X has always been the best source of financial news for traders and investors,” and added that “billions of dollars are allocated every day based on what people read on Timeline.”

Bier joined X in June and serves as an adviser to Solana Labs. This week he posted that crypto “has had a rough year” and suggested, “Maybe we should launch something to fix it.”

The rollout aligns with X owner Elon Musk’s effort to expand the platform’s services. Musk said last month the company plans to open early public access to X Money, a digital wallet for peer-to-peer transfers and payments, in April. It remains unclear whether X Money will support cryptocurrency transactions; some analysts have cautioned that adding crypto transfers could invite regulatory scrutiny.

Company officials characterized Cashtags as a means to surface financial information where users already consume news and commentary and to direct them to off-platform execution venues. The company has not detailed how the trading pilot connects with brokers or exchanges or provided an asset-level breakdown of the reported trading volume.