X Bolsters Finance Team with Key Crypto Hire Ahead of Payment Launch

In a strategic move to strengthen its financial services ambitions, social media platform X has appointed Benji Taylor, a well-respected figure in the cryptocurrency space, as its new design lead. The timing of this hire is significant, coming just weeks before the planned April rollout of the platform's in-house payment service, X Money.

New Design Lead Brings Deep Crypto Expertise

Benji Taylor is no stranger to the world of digital assets and blockchain technology. Prior to joining X, he served as the Chief Product Officer at Aave Labs, a leading decentralized finance protocol, where he oversaw product strategy and user experience. His portfolio also includes contributing to the design of Coinbase's Layer 2 blockchain network, Base.

Taylor's entrepreneurial background further solidifies his credentials. He founded Los Feliz Engineering, a team that developed the self-custody wallet "Family." This project and the team behind it were acquired by Aave Labs in 2023, highlighting the value of their work.

Glimpse into the X Money Roadmap

Nikita Bier, X's product lead, expressed strong enthusiasm for Taylor's arrival. Bier stated he had long admired Taylor's design work and actively championed his recruitment to help shape the future of X's financial products.

According to details shared by owner Elon Musk this month, X Money is slated for an April debut. The initial feature set will focus on core financial utilities, including:

  • Peer-to-peer transactions between users
  • Bank deposit and withdrawal functionality
  • Debit card support
  • Cashback rewards programs

The service is expected to launch in over 40 U.S. states. It is noteworthy that official communications have so far not indicated that X Money will involve blockchain technology or direct cryptocurrency handling, suggesting an initial focus on integrating with traditional finance.

The appointment of an expert with Taylor's crypto pedigree adds considerable heft to X's financial division and fuels speculation about the platform's potential future moves in the broader digital asset ecosystem.