Nikita Bier, X's head of product, recently made a statement that could be interpreted as a hint about the company's upcoming launch. In a post that garnered over 677,000 views in a matter of hours, Bier said, 'Crypto has had a rough year. Maybe we should launch something to fix it.' This statement comes just weeks before Elon Musk's X Money is set to go live in April, featuring peer-to-peer transfers, bank deposits, a debit card, and cashback rewards, all built in partnership with Visa. While details about the product are still scarce, it is confirmed to be fiat-based, with no explicit mention of crypto functionality.
However, the company has not ruled out the possibility of incorporating blockchain technology in the future. The recent hiring of Benji Taylor, Aave's former Chief Product Officer, has also sparked speculation about the potential overlap between X's product and crypto. As the launch of X Money approaches, it remains to be seen whether the company will compete with crypto or integrate it into its platform, leaving the crypto community wondering if the next catalyst for growth will come from within or from external platforms like X.