Nikita Bier, X's head of product, recently sparked intrigue with a statement that may be a hint at the company's upcoming plans. "Crypto has had a rough year.
Maybe we should launch something to fix it," Bier wrote in a post that garnered over 677,000 views in a matter of hours. This statement comes just weeks before Elon Musk's X Money is set to launch, featuring peer-to-peer transfers, bank deposits, a debit card, and cashback rewards, all built in partnership with Visa. Although details about the product are still scarce, it is confirmed to be fiat-based, with no explicit crypto functionality.
However, the company has not ruled out the possibility of incorporating blockchain technology in the future. The recent hiring of Benji Taylor, Aave's former Chief Product Officer, adds to the speculation. As X prepares to launch its payments product, it remains unclear whether it will compete with crypto or eventually integrate with it, leaving the crypto community to wonder if the next significant development will come from within or from external platforms.