Nikita Bier, X's head of product, recently sparked interest with a statement that may 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 comes as Elon Musk's X Money is set to launch in April, offering peer-to-peer transfers, bank deposits, a debit card, and cashback rewards, all built in partnership with Visa.
While details about the product remain limited, it is described as a fiat-based system with no confirmed cryptocurrency 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, has also raised questions about the potential overlap between X's product and the crypto space. As the launch of X Money approaches, it remains to be seen whether the company will compete with crypto for users or potentially integrate it into their platform.