Nikita Bier, X's head of product, may have just given a hint about the company's upcoming launch. In a recent post that gained over 677,000 views in a matter of hours, Bier stated, "Crypto has had a rough year.
Maybe we should launch something to fix it." This comes after Elon Musk confirmed that X Money will be launching in April, featuring peer-to-peer transfers, bank deposits, a debit card, and cashback rewards, all built in partnership with Visa and available in over 40 US states. While details about the product are still scarce, it is known that it will be fiat-based, with no confirmed crypto functionality.
However, X has not ruled out the possibility of incorporating blockchain technology in the future. The company recently hired Benji Taylor, Aave's former Chief Product Officer, which has led to speculation about the potential overlap between X's product and the crypto space. Bier has expressed admiration for Taylor's past work, calling one of his products one of the best-designed he has seen. As X's launch approaches, it remains to be seen whether the company will compete with crypto or integrate it into their product.
For now, the ambiguity surrounding X's plans has left many in the crypto community waiting for the next catalyst, unsure whether it will come from within the industry or from external platforms.