Key Notes

Key Notes:

Visa and X Money partnered for P2P payments, sparking crypto integration speculation, though no official announcement was made.Fireblocks SVP of Payments and Network, Ran Goldi, predicts X will likely enable crypto payouts by year-end, citing major payment firms’ digital asset strategies.Musk’s crypto ties and growing demand for digital asset payments in the gig economy fuel crypto integration anticipation, but regulatory questions exist.

When Visa linked arms with X Money last month, speculation erupted. The social media platform, formerly known as Twitter, had taken a step closer to integrating financial services, fueling rumors that cryptocurrency might soon follow. While no official word was given, industry insiders see the writing on the wall.

Fireblocks SVP of Payments and Network, Ran Goldi, noted that major payment firms are rushing to develop digital asset strategies. He stated that by year’s end, X will likely enable cryptocurrency payouts. Goldi’s firm, which has a hand in about 15% of global blockchain transactions, sees this shift as inevitable.

“They fully expect that by the end of this year, X will probably have the ability to pay out in cryptocurrencies,” Goldi told The Block

In January, X Money launched a partnership with Visa to create a peer-to-peer payment system. The deal allows users to fund digital wallets, transfer money to bank accounts, and make direct payments using debit cards. CEO Linda Yaccarino hailed the move as a key step toward Elon Musk’s goal of turning X into an “everything app.”

Musk’s deep ties to cryptocurrency add weight to the speculation. His electric vehicle company, Tesla, holds over $1 billion in Bitcoin. And then there’s Dogecoin, a meme coin turned serious asset, which Musk has championed for years. With this track record, a crypto integration on X Money would surprise a few.

Yet when X Money’s Visa deal was announced, neither Musk nor Yaccarino hinted at crypto plans. The silence hasn’t stopped industry watchers from making predictions. With former President Donald Trump stacking his administration with crypto-friendly officials, Musk might see an opportunity too big to ignore.

Goldi also highlighted the growing demand for crypto payments in the gig economy. Digital asset firms are eyeing X Money as a potential vehicle for cross-border payments, especially for freelancers and online marketplaces. That segment of the economy, which often deals with currency exchange fees and slow transactions, could benefit greatly from blockchain-based payments.

The Visa deal raises regulatory questions, too. Given its connections to bank accounts and debit cards, X Money operates within the Consumer Financial Protection Bureau’s oversight. The CFPB, formed after the 2008 financial crash, has scrutinized digital payments policing tech firms like Apple and Google that have dipped into finance. Any move toward crypto could draw fresh regulatory attention.

Win for crypto—today the @CFPB finalized their “Larger Participant” rule, which targeted digital wallets like Apple Pay — but also covered crypto wallets. The crypto industry, including @paradigm, pushed back on this. In the final rule today, the CFPB fully scoped out crypto. pic.twitter.com/9PNywBn1hJ

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With over 3 years of crypto writing experience, Bena strives to make crypto, blockchain, Web3, and fintech accessible to all. Beyond cryptocurrencies, Bena also enjoys reading books in her spare time.

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