X Mulls Stablecoin Payments for Creators as it Expands Global Reach
X, Elon Musk's social media platform, is considering a plan to pay creators and content providers in stablecoins. The idea involves using stablecoins like Circle's USDC to simplify payments worldwide.
According to reports, adopting stablecoins could allow X to send small payments quickly across countries with different banking systems and fiat currencies.
X has already seen success with this approach through its space company SpaceX, which uses stablecoins for Starlink payments in emerging markets.
The discussions about using stablecoins are still ongoing, and no launch date or payout method has been determined. Benji Taylor, X's head of design, brings experience from the cryptocurrency industry to the table, having previously worked at Coinbase's layer-2 blockchain Base.