Nikita Bier, X's head of product, may have just given a glimpse into what the company is planning to launch. In a 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 statement comes just weeks before the anticipated launch of X Money in April, which will feature peer-to-peer transfers, bank deposits, a debit card, and cashback rewards, all built in partnership with Visa and a licensed subsidiary in over 40 US states. While details about the product are still scarce, it is known that X Money will be a fiat-based product, but 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 sparked speculation about the potential overlap between X's product and the crypto space. Bier's statement has left many wondering whether X's new product will compete with or integrate with the crypto industry, and for now, the answer remains unclear.