X explores payments from stablecoin creators as social platforms add more payments and adopt crypto rails.
Coindesk reported that Elon Musk’s explore using stablecoinspotentially including USDC, to compensate creators and other content providers on the platform.
What’s the scoop?
- X’s plan: The discussions come as X rolls out its new original content rewards program, which pays users for reporting, commentary and other original content. However, there are no further details on what the stablecoin will be and what the implementation structure will be, if any. Starlink already uses stablecoins for cross-border payments.
- Social goes to Fintech: X is far from alone. TikTok plans to allow users send and request money directly via DMs, while Meta has already started use USDC for creator payments in certain markets.
David Christophe
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David is a writer/analyst at Bankless. Before joining Bankless, he worked for a series of early-stage crypto startups and with grants from the Ethereum, Solana and Urbit foundations. He graduated from Skidmore College in New York. He currently lives in the Midwest and enjoys NFTs, but no longer participates in them.
