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 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 the details of X Money suggest a fiat-based product with no explicit crypto functionality, the company has not ruled out the possibility of incorporating blockchain technology. The recent hiring of Benji Taylor, Aave's former Chief Product Officer, has also raised questions about the potential overlap between X's product and crypto.
Bier's statement has left many wondering whether X will compete with crypto or eventually integrate it, using blockchain infrastructure without directly exposing users to it. As the launch of X Money approaches, the crypto community awaits its next catalyst, unsure whether it will come from within the industry or from external platforms like X.