X Weighs Paying Creators in Stablecoins, Including Circle’s USDC
Summary
- Elon Musk’s social media platform X is internally reviewing a plan to pay creator rewards in stablecoins, according to a report.
- If X adopts stablecoins such as Circle’s USDC, it could quickly pay creators around the world through a single digital payment method, the report said.
- Musk’s SpaceX has already adopted stablecoins for Starlink payments, and X hired Benji Taylor, a DeFi veteran from Coinbase’s Base.
Forecast Trend Report by Period
Elon Musk’s social media platform X is weighing a plan to pay creators and other content providers on the platform in stablecoins.
CoinDesk reported on August 20, citing people familiar with the matter, that X is internally reviewing a proposal to distribute creator earnings using stablecoins such as Circle’s USDC.
The discussions are still at an early stage, and neither the payment structure nor the rollout timeline has been finalized, the report said. X has not publicly commented on the report.
Adopting stablecoins could streamline payouts to creators worldwide. Using a single digital payment method would let X send even small rewards quickly despite differences in local banking systems and fiat currencies.
Musk-led SpaceX has already adopted stablecoins to accept payments from Starlink customers in emerging markets.
In March, X also hired Benji Taylor as head of design. He previously led design at Coinbase’s Layer 2 blockchain Base and built much of his career in the crypto industry, particularly in decentralized finance, or DeFi.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul