Nikita Bier, X's head of product, has made a thought-provoking statement that may have revealed the company's plans. "Crypto has had a rough year, perhaps it's time to introduce something to improve it," Bier wrote in a post that garnered over 677,000 views in a matter of hours. This statement comes as Elon Musk's X Money is set to launch in April, featuring peer-to-peer transfers, bank deposits, a debit card, and cashback rewards, all built in partnership with Visa. Although details about the product remain scarce, it is known that X Money will operate on a fiat-based system, with no confirmed integration of crypto functionality.
However, the company has not explicitly ruled out the possibility of using blockchain technology. Recently, X hired Benji Taylor, Aave's former Chief Product Officer, which has sparked speculation about the potential overlap between X's product and the crypto space. The question remains whether X will compete with crypto for users seeking yield and convenience or eventually incorporate crypto rails into its payments stack.
For now, the ambiguity surrounding X's plans continues to generate interest and speculation within the crypto community.