Nikita Bier, X's head of product, recently made a statement that may be a hint at what X is planning to launch. In a post that gained over 677,000 views in a matter of hours, Bier said, 'Crypto has had a rough year. Maybe we should launch something to fix it.' This comes just weeks before the 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. While details about the product are still scarce, it is known that it will be based on fiat currency, with no confirmed cryptocurrency functionality.
However, X has not explicitly ruled out the possibility of incorporating blockchain technology into the product. The company recently hired Benji Taylor, former Chief Product Officer at Aave and Head of Design at Base, which has sparked speculation about the potential overlap between X's product and the crypto space. Taylor's hiring was praised by Bier, who has been following his work for years. The question remains whether X's product will compete with crypto or eventually integrate with it.
For now, the ambiguity surrounding X's plans leaves the crypto community waiting for its next catalyst, unsure whether it will come from within the industry or from external platforms like X.