X's head of product, Nikita Bier, has sparked speculation about the company's upcoming plans with a recent post that garnered 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 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 and available in over 40 US states. Although the details of X Money's underlying technology remain unclear, it has been described as a fiat-based product with no confirmed cryptocurrency integration.
However, the company has not ruled out the possibility of incorporating blockchain technology in the future. The recent hiring of Benji Taylor, former Chief Product Officer at Aave, has also fueled speculation about the potential overlap between X's product and the crypto space.
Taylor's past work has been praised by Bier, who has expressed admiration for one of his previous products. As X Money's launch approaches, it remains to be seen whether the company will compete with crypto for users or potentially integrate blockchain technology into its platform. For now, Bier's statement has added to the ambiguity surrounding X's plans, leaving the crypto community to wonder if the next major development will come from within the industry or from external players like X.