Social platform X has officially launched the Cashtag Partner Program in the U.S., with initial partners including Coinbase, Kraken, Gemini, Interactive Brokers, and Moomoo.

The specific interaction method allows users on the X platform to click on a supported stock, ETF, or cryptocurrency's Cashtag (the stock/asset code label with a "$" symbol) to directly view the asset's price chart and related posts.

After viewing the price and related discussions, users can click the "Trade" button, which will guide them to the participating broker's app or website to complete subsequent operations; X emphasizes that the actual trading occurs on the corresponding broker's platform, not directly within the X app.

The partner list includes both cryptocurrency exchanges (Coinbase, Kraken, Gemini) and traditional brokerage firms (Interactive Brokers, Moomoo), indicating that the feature covers both cryptocurrency and traditional stocks and ETFs.

In terms of product positioning, the Cashtag Partner Program essentially transforms the existing Cashtag information flow (stock/cryptocurrency discussion tags) on the X platform into a complete flow entry for "discovering—viewing market data—redirecting to trade," rather than building a trading matching system.

From a market mechanism perspective, X does not directly facilitate trades or bear compliance responsibilities under brokerage licenses, but plays the role of "traffic entry + information display layer," converting the discussion heat generated on its platform regarding stocks and cryptocurrencies into downloads and account openings for corresponding broker apps; for participating brokers and exchanges, this provides a customer acquisition channel based on real discussion heat on social media, especially for users already active on X discussing individual stocks or crypto assets, significantly shortening the conversion path. Who benefits: The five selected brokers and exchanges can acquire users with clear trading intentions at a lower cost; who is under pressure: other brokers and exchanges not included in the partnership list will have their exposure and traffic opportunities on the X platform relatively locked by the aforementioned five, potentially increasing customer acquisition costs. For X itself, such traffic cooperation usually comes with revenue sharing or advertising cooperation fees, opening a new source of commercialization income without bearing the compliance costs of financial licenses and trading matching.

Source: Public Information