In a recent post that garnered over 677,000 views, Nikita Bier, X's head of product, suggested that the launch of something new could be the solution to crypto's difficult year. This statement comes just weeks before the launch of X Money, a fiat payments app developed in partnership with Visa, offering peer-to-peer transfers, bank deposits, and cashback rewards. Although the details of X Money's functionality are still unclear, it is confirmed to operate in over 40 US states. The recruitment of Benji Taylor, Aave's former Chief Product Officer, has further fueled speculation about the potential integration of crypto and blockchain technology.
As the launch of X Money approaches, the question remains whether it will compete with or complement existing crypto solutions, potentially using blockchain infrastructure to enhance its services.