In a recent post that garnered over 677,000 views in a matter of hours, Nikita Bier, X's head of product, hinted that the company may be working on a solution to crypto's tumultuous year. "Crypto has had a rough year. Maybe we should launch something to fix it," Bier wrote on Tuesday. This statement comes just weeks before the highly 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 available in over 40 US states.
Although details about the product suggest it will be fiat-based, with no explicit crypto functionality, the company has not ruled out the possibility of incorporating blockchain technology. The recent hiring of Benji Taylor, former Chief Product Officer at Aave and Head of Design at Base, further fuels speculation about the product's potential overlap with crypto. As X Money's launch nears, the question remains whether it will compete with crypto or eventually integrate with it, potentially using blockchain infrastructure without directly exposing users to it. For now, Bier's post leaves the crypto community in a state of uncertainty, wondering if the next major catalyst for the industry will come from within or from external platforms like X.