Nikita Bier, X's head of product, recently sparked interest with a post that garnered over 677,000 views in a matter of hours, stating, 'Crypto has had a rough year. Maybe we should launch something to fix it.' This comes as Elon Musk's X Money is preparing to go live in April, offering 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 remain limited, it is described as a fiat-based service with no confirmed cryptocurrency functionality. However, X has not explicitly ruled out the use of blockchain technology, and the product's design shares similarities with areas where crypto has focused, such as instant payments and yields on dollar balances.
Recently, X hired Benji Taylor, formerly of Aave, as part of its team, which has led to speculation about potential crypto integration. Bier's post has added to the ambiguity, leaving the crypto community wondering if the next significant development will come from within the industry or from external platforms like X.