X Product Chief Exits as Platform Launches Payments Service Without Crypto

Nikita Bier, the head of product at X, announced his departure on Wednesday. He has been working at X for over a year and has overseen the launch of numerous products, including its payments platform, X Money.

X Money is a financial service that allows users to make peer-to-peer payments, wires, bill pay, and even receive direct payroll deposits into their account.

However, what's notable about X Money is that it does not currently support cryptocurrencies, despite Elon Musk's stated interest in crypto. The platform has obtained money transmitter licenses across most US jurisdictions, but adding cryptocurrency capabilities would have extended the process and brought additional supervisors into it.