Nikita Bier, X's head of product, has sparked interest with a recent post that garnered over 677,000 views in a matter of hours. His statement, 'Crypto has had a rough year. Maybe we should launch something to fix it,' comes just weeks before the anticipated launch of X Money in April.
Elon Musk's fiat payments app, built in partnership with Visa, will offer peer-to-peer transfers, bank deposits, a debit card, and cashback rewards in over 40 US states. While details about the product's underlying technology remain scarce, its design shares similarities with areas where crypto has focused, such as instant payments and yields on dollar balances.
The recent hiring of Benji Taylor, Aave's former Chief Product Officer, has further fueled speculation about the potential overlap between X Money and crypto. As the launch of X Money approaches, it remains unclear whether the product will compete with crypto or eventually integrate blockchain technology, leaving the crypto community to wonder if its next catalyst will come from within or from external platforms.