X Launches Cashtag Partner Programme With Coinbase, Gemini, Kraken and Other Trading Platforms

The new feature connects eligible US Cashtags with five external brokers and crypto exchanges for trade execution.

X Launches Cashtag Partner Programme With Coinbase, Gemini, Kraken and Other Trading Platforms

Photo Credit: Unsplash/Kelly Sikkema

Cashtags can show market data and related conversations before users select a trading provider

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Highlights
  • X displays live charts and related posts for supported assets
  • Kraken said its integration covers more than 2,500 assets
  • Trading availability varies by provider and user eligibility
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Cashtag, which is a part of X in the US, has been upgraded with the addition of five external trading platforms that have been connected to the stock, ETF, and cryptocurrency pages, making the process of getting from a financial post to a trade easier for the user. X has introduced the US Cashtag Partner Program with partners such as Coinbase, Gemini, Kraken, Interactive Brokers, and Moomoo, where users will be able to click “Trade” once they open an enabled ticker, like $BTC or $TSLA. The transaction will take place through the selected partner's mobile app or website and not on X. 

Cashtag Users Will Be Redirected to External Trading Platforms

As per the new flow, the user can search for a compatible Cashtag or click on one that appears in the post. X will display real-time price charts along with relevant posts related to the asset, then present the trading partners that participate in the Cashtag system. The user will then select his/her preferred brokerage/Exchange, log into his/her existing account or open an account, and execute the trade. The entire process ensures that the trade is executed by companies that already have a trading platform. 

X does not describe itself as executing the trade through the Cashtag system, and its launch procedures direct users to the partner platform for the final order. Asset availability, account opening, eligibility, and trading terms are dependent on the provider selected by the user. 

Product Engineering Lead Mridul Singhai said, “Cashtags close the gap between a ticker on the timeline and the market itself. When you post or tap a ticker, you're taken right to the asset, where you have seamless access to the live chart, the conversation around it, and now the ability to trade with one of our brokerage partners.” This statement highlights X's vision to shorten the steps from financial conversation to the trading venue.

Independent confirmation has come through Kraken's channels about its status as a US Cashtag launch partner. Upon selection of Kraken on a relevant ticker page, X redirects the user to Kraken's app or web portal for account authentication and trade execution. Kraken stated its implementation covers Cashtags that cover over 2,500 assets available at the centralised exchange and decentralised exchange services offered by Kraken. The number above represents Kraken's asset coverage, and it does not indicate that all Cashtags at X will route users to Kraken assets or trading products. Geographic restrictions and account eligibility still apply. 

Interactive Brokers has independently verified the connectivity for US-based traders. It gives the user the ability to view the asset on X and move on to the IBKR website, where they will be able to conduct the analysis of that asset and place their trade orders. Newly eligible US-based clients who open and fund qualifying accounts via Cashtag will be eligible for a $100 (roughly Rs. 9,555) promotional credit. Moomoo considers itself one of the first US-regulated brokers for X. The platform integration connects users from supported stock Cashtags to their respective Moomoo pages that provide market data and trading access.

Coinbase and Gemini were highlighted by X as the remaining launch partners in its announcement. The social media platform has failed to produce any universal list that states the type of assets accepted by each partner through Cashtags, meaning coverage can differ by brokerage or exchange. Neither X nor the companies have revealed a timeline for expansion of the five-party program outside the US or even mentioned other brokers joining. Kraken stated that there was “more to come,” but neither firm offered any timetable or identified other trading parties.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Rahul Dhingra
Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More
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