Nikita Bier, X's head of product, recently made a statement that has garnered significant attention, saying 'Crypto has had a rough year. Maybe we should launch something to fix it.' This comment comes just weeks before the highly anticipated launch of X Money, a fiat payments app developed in partnership with Visa, offering peer-to-peer transfers, bank deposits, a debit card, and cashback rewards. Although details about the app's underlying technology remain scarce, it is confirmed to be available in over 40 US states.
The recent hiring of Benji Taylor, former Chief Product Officer at Aave, has also sparked speculation about the potential integration of blockchain technology into X Money. As the launch date approaches, the question remains whether X Money will compete with or complement existing crypto solutions, potentially using blockchain infrastructure without direct user exposure. Bier's statement has added to the ambiguity, leaving the crypto community wondering if the next major development will come from within or from external platforms.