X CEO Linda Yaccarino announced at the Cannes Lions International Festival of Creativity in France that the social media platform, formerly known as Twitter, is poised to introduce payment functionality for users as part of its transformation into an all-encompassing "everything app."

Yaccarino highlighted the significant strides made under her leadership since Elon Musk's acquisition of Twitter in 2022, emphasizing the company's rapid pace of innovation and its ambitious vision.

The move towards integrating payment features is aligned with Musk's vision to expand Twitter into an "everything app," offering a wide array of services from financial transactions to dating. Initially focusing on fiat currencies, the platform's new financial ecosystem is being developed with potential future support for cryptocurrency payments, reflecting Musk's interest in Dogecoin, though formal integration plans have not been confirmed.

Last July, X obtained three money transmitter licenses, laying the groundwork for its upcoming payment system. Yaccarino underscored the transformative potential of these developments, describing them as catalysts for new user experiences and interactions on the platform, particularly within the emerging financial ecosystem.

Looking ahead, X plans to introduce additional functionalities such as video calling and job search features, aiming to enhance the platform's utility for both personal and professional networking. Yaccarino emphasized that these innovations have significantly broadened the platform's capabilities, elevating user engagement and usage metrics.

Furthermore, Yaccarino noted the positive trend of major advertisers returning to X, with 90% of the top 100 advertisers now active on the platform. This resurgence underscores growing confidence in X's strategic direction and its ability to evolve into a comprehensive digital destination.