Nikita Bier, X's head of product, recently sparked curiosity with a post that garnered over 677,000 views in a matter of hours. 'Crypto has had a rough year.
Maybe we should launch something to fix it,' he wrote. This statement comes as Elon Musk's X Money is preparing to go live in April, featuring peer-to-peer transfers, bank deposits, a debit card, and cashback rewards, all built in partnership with Visa. Although details about the product are scarce, it is known that X Money will operate on a fiat basis, with no confirmed cryptocurrency functionality.
However, the company has not explicitly ruled out the use of blockchain technology, leaving room for speculation. The recent hiring of Benji Taylor, Aave's former Chief Product Officer, has further fueled rumors about the potential integration of crypto elements into X Money. As the launch date approaches, it remains unclear whether X will compete with crypto or incorporate it into its platform, leaving the crypto community waiting for its next catalyst, which may come from within the industry or from external platforms like X.