X Targets Stablecoin Payments
Elon Musk’s X Reportedly Considers Stablecoins to Facilitate Global Creator Payouts
Key Points
In June, X began rolling out X Money to a subset of Premium+ subscribers, offering peer-to-peer payments, a Visa debit card, and a savings product. The rollout occurred as X tests broader fintech features, but neither X nor its banking partner has confirmed plans to add cryptocurrency to the service.
SpaceX already uses stablecoins to accept cross-border payments from Starlink customers in emerging markets, illustrating a broader corporate use of stablecoins within Musk’s ecosystem beyond X.
A CoinDesk alert about X exploring stablecoins was withdrawn due to improper coding and incorrect sourcing to the South China Morning Post, underscoring the need for rigorous verification in crypto reporting.
The global stablecoin market has grown to over $301 billion, highlighting the scale at which a universal digital payment method could operate for cross-border creator payouts.
Changpeng Zhao indicated in June that he discussed a potential Binance partnership for X Money with Musk, but Musk said the platform is currently staying away from crypto, signaling a cautious stance amid talks.
Elon Musk's X is exploring using stablecoins like USDC to pay creators and influencers as part of a shift away from its current revenue sharing system PYMNTS. The discussions are ongoing but not yet confirmed by X, though internal talks have focused on faster, cheaper payouts for creators worldwide CryptoNews. This move would align with SpaceX's existing use of stablecoins for cross-border payments from Starlink customers in emerging markets.
The global stablecoin market has grown to over $301 billion, making digital currencies an increasingly viable way to handle international payments CryptoTimes. X's plans reflect a broader industry trend toward using stablecoins as a universal payment method that could streamline rewards across countries with different banking systems.
X Replaces Revenue Sharing With Creator Rewards Program
X is replacing its Revenue Sharing program with a new Original Content Rewards program CryptoBriefing. This change comes as the platform seeks to modernize how it compensates users who upload content. In June, X already began rolling out X Money to Premium+ subscribers, offering peer-to-peer payments, a Visa debit card, and savings products PYMNTS. However, neither X nor its banking partner has publicly confirmed plans to add cryptocurrency to these fintech services.
SpaceX Already Uses Stablecoins for Global Payments
SpaceX has a working example of stablecoin adoption within Musk's corporate ecosystem. The company uses stablecoins to accept cross-border payments from Starlink customers in emerging markets. This real-world usage demonstrates that stablecoins can reduce payment friction and costs in countries with weak banking infrastructure. X's potential move would apply the same logic to creator compensation worldwide.
Binance Partnership Talks Signal Caution on Crypto
Binance CEO Changpeng Zhao indicated in June that he discussed a potential partnership for X Money with Musk CryptoNews. However, Musk said the platform is currently staying away from crypto. This cautious stance suggests X may be moving slowly despite internal stablecoin discussions. The company appears to be testing the water rather than making immediate commitments to cryptocurrency integration.
Reporting Challenges Highlight Need for Crypto Verification
A CoinDesk alert about X exploring stablecoins was withdrawn due to improper coding and incorrect sourcing to the South China Morning Post CryptoTimes. The withdrawal underscores how crypto reporting requires rigorous fact-checking. While multiple outlets now report on X's stablecoin discussions, the earlier retraction shows that unconfirmed claims can spread quickly in the industry. Investors and readers should watch for official confirmation from X before treating these plans as final.
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