Summary
- X, led by Elon Musk, said it appointed Benji Taylor, who has experience in DeFi and wallet services, as head of design.
- X said it has signaled an April launch for X Money, as it pushes to expand payments and financial services.
- X Money is expected to offer transfers, bank deposits, debit cards, cashback, and the company is considering a plan to provide a 6% return on balances in more than 40 U.S. states.
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X, led by Elon Musk, is stepping up its expansion into payments by hiring a figure from the digital asset (cryptocurrency) industry.
According to CoinDesk on the 25th (local time), X appointed Benji Taylor, who has experience in DeFi and wallet services, as head of design.
Taylor is the founder of Los Feliz Engineering, which developed the self-custody wallet “Family.” The company was acquired in 2023 by Aave Labs, the developer behind Aave. He then served as chief product officer (CPO) and, until recently, worked as design lead for Coinbase’s Ethereum-based network Base.
At X, Taylor will oversee design tied to xAI and SpaceX.
The appointment comes as X pushes to expand its payments and financial services. X has signaled it will launch “X Money” in April.
X Money is expected to offer peer-to-peer transfers, bank deposits, debit cards and cashback features across more than 40 U.S. states. It has also been reported that the company considered offering a 6% return on balances for some services.
However, it has not yet been specifically disclosed whether X Money will include blockchain or digital-asset functionality.
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