Elon Musk-owned X (formerly Twitter) aims to position itself as a central financial hub, encouraging individuals to consider using it as their primary financial solution instead of traditional bank accounts.

According to a report by The Verge, during an all-hands meeting on Oct. 26, Musk expressed his vision for transforming the platform into a financial hub, with a roadmap to implement new features by the end of 2024. 

Musk envisions X as an all-encompassing financial platform, covering every aspect of users' financial lives, from money and securities to eliminating the need for traditional bank accounts. 

According to reports, Musk referred to his creation of the PayPal platform during the meeting. Musk co-founded X.com - originally conceived as a comprehensive financial platform - which was subsequently acquired by PayPal.