Social media platform X is investigating the possibility of using stablecoins, including Circle Internet Group's USDC, to handle payments for key users and creator rewards. According to a person close to the plans, discussions are currently ongoing.
While X has not issued an official statement regarding the matter, the source noted that other social media platforms are also testing stablecoins for influencer and creator payments.
This potential payment shift aligns with X's transition away from its previous Revenue Sharing program toward the new Original Content Rewards Program. The updated initiative is designed to reward creators who bring original ideas, expertise, reporting, commentary, and creativity to the platform.
The integration of stablecoins could offer X an alternative method for compensating global creators. Stablecoins have increasingly become a significant component of blockchain transactions, with a combined market value surpassing $300 billion, and are frequently utilized to accelerate cross-border business transfers.
Cryptocurrency is already utilized within other ventures led by Elon Musk. For example, USD-pegged stablecoins and Dogecoin are used for specific cross-border payments originating from Starlink customers in emerging markets.
Additionally, X has incorporated cryptocurrency expertise into its leadership structure. In March, Musk appointed Benji Taylor as head of design at X. Taylor previously served as the lead designer for Coinbase's Base blockchain network and brings experience in crypto wallets and decentralized finance.
