Elon Musk is trumpeting the move to rebrand Twitter to 'X' as the biggest step yet in the transformation of what was once a humble microblogging app into an “everything app.” But it comes as the company continues to struggle.
Maybe the biggest challenge will be in making Twitter a financial powerhouse, something Musk has mentioned many times.
“Being able to get people to leave Apple and the ecosystem it has created to come to Twitter, to carry out banking and financial transactions, there’s going to be a stretch,” he said. “Fintechs find it difficult to move customers who have been using banking for a long time to come onto their platforms. So it’s really going to be quite difficult to make people switch brands.”
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