Melker Bengtsson
TL;DR
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X has launched "Trade" buttons on supported cashtags in the US; Coinbase, Kraken and Gemini are three of five launch partners.
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Trades happen on the partner's platform, not on X. At least to start, it seems to have become an ad spot.
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The Canada pilot with Wealthsimple drove an estimated $1 billion in volume, a figure that comes from X directly.
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There's no disclosure on how the partnerships are structured, whether it's a referral fee, commission or a paid spot.
X has launched “Trade” buttons on supported cashtags in the US. The Cashtag Partner Program launched yesterday and was announced by the @XBusiness account.
— Business (@XBusiness) September 15, 2026
The program is open only to selected partners. At this point, crypto exchanges Coinbase, Kraken and Gemini are three out of a total five launch partners. Mridul Singhai, X’s product engineering lead said in the post:
Cashtags close the gap between a ticker on the timeline and the market itself.
Everything App or Ad Spot
Over the years, X has become the de facto place for crypto discovery and discussion. Integrated trading was the next step and for a long time, it was believed it would be happening from inside the X app. Elon Musk has spoken about X becoming the “everything app”. This would have taken them in this direction. But, at least to start, it seems it has become an ad spot.
The cashtag was rolled out on X in April and the company started a pilot for the “Trade” button with Wealthsimple in Canada on the same day, which was deemed a success. Nikita Bier, then-head of product at X, tweeted about the pilot:
Based on aggregated data from our trading pilot, X has driven a estimated $1 billion in trading volume globally since launching on Tuesday night. https://t.co/TimRE4U37S
— Nikita Bier (@nikitabier) April 17, 2026
That figure, of course, comes from X directly and Wealthsimple has not published their actual results. There’s no disclosure on how these partnerships are structured, whether it’s a referral fee, commission or a paid spot. SpaceX’s, of which X is a part, August earnings showed that the platform's ad revenue was down $83 million year-over-year.
If X were to create their own trading platform inside of the app, this would be an efficient way to test it. Not to mention that the test itself could generate ad revenue for a company whose ad revenue shrunk over the last year.
X has made some moves into the money business. X Money, the company’s payments solution, already exists and X is a licensed money transmitter in 40 US states.
Not Exclusive to Crypto
The “Trade” button is not exclusive to crypto. It features two more platforms: Interactive Brokers and Moomoo. After clicking the button, the user gets to pick which partner they want to proceed to. Both Kraken and Coinbase now offer stock trading as well as crypto.
The Canada to US rollout took five months. More markets is the natural next step but it remains to be seen which market Musk’s social media company targets next.
