Breaking: Elon Musk’s X To Use USDC, Other Stablecoins To Pay Creator Rewards

Elon Musk’s X is investigating the possibility of using stablecoins for creator rewards. The platform, according to one person close to the plans, is in discussions regarding Circle Internet Group’s USDC stablecoin for payments to key users.

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Elon Musk’s X Explores Stablecoin Payments For Creators

The talks are continuing on using stablecoins for creator rewards on X. The source also revealed working with other social media platforms testing stablecoins for influencer payments. However, X has not made any official statement on the matter as of yet.

For further context, stablecoins are now a significant component of blockchain transactions. The market value of their combined businesses has even surpassed $300 billion. They are also being utilized for cross-border transfers. The technology could also make cross-border transfers of money faster for businesses.

X’s move is in line with the platform’s transition to a different creator payment structure. The Elon Musk-led company will be replacing its old Revenue Sharing program with the Original Content Rewards Program.

This new program is tailored to “reward creators who bring original ideas, expertise, reporting, creativity, and commentary to X,” the company stated, per a CoinDesk report.

The latest proposed system is focused on original content. It includes reporting, commentary, creative work and expertise.

The potential use of a stablecoin will provide X with another payment alternative for creators around the globe. The discussion continues on the stablecoins that are being considered, including USDC.

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Musk’s Businesses Already Use Crypto Payments

Moreover, crypto has already been implemented in some payments for some of Elon Musk’s other ventures. For instance, USD-pegged stablecoins and Dogecoin are used for some of SpaceX’s cross-border payments from Starlink customers in emerging markets.

Additionally, X has added crypto expertise to its leadership team. Musk added Benji Taylor to the head of design position at X in March. He also has a stake in xAI and SpaceX.

For context, Taylor was previously the lead designer for Coinbase’s Base blockchain network. He is a seasoned expert in crypto wallets, decentralized finance, and much more.

With stablecoins gaining momentum in crypto trading, the discussions via Elon Musk’s X team come as no surprise. Other social media platforms are also looking into the possibility of payments from creators and commissions.

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