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Elon Musk’s X Explores Stablecoins To Pay Influencers & Content Creators

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Elon Musk’s X Explores Stablecoins To Pay Influencers & Content Creators
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Elon Musk’s social media platform X is exploring the use of stablecoins such as Circle’s USDC to pay influencers and content creators, according to a person familiar with the discussions. The talks are still ongoing and could lead to stablecoin-based royalty payments for users who upload content.

X is also overhauling its creator payment system, replacing its long-running Revenue Sharing programme with the new Original Content Rewards Program. The move could bring stablecoins closer to everyday creator payments while giving X a faster way to send money to users around the world.

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The discussions reflect the growing use of stablecoins for digital payments. Stablecoins are cryptocurrencies designed to maintain a relatively stable value, usually by being linked to currencies such as the US dollar. Their combined market capitalisation has now crossed $300 billion.

For a global platform such as X, stablecoins could offer a practical way to make international payments. Traditional cross-border transfers can involve banks, intermediaries, currency conversions and delays. In contrast, stablecoins have the ability to swiftly and possibly more cheaply transfer money between blockchain networks.

Additionally, the concept aligns with Musk’s wider interest in digital assets and payments. His space company, SpaceX, already uses stablecoins to collect cross-border payments from Starlink customers in some emerging markets. That experience could provide useful insight if X decides to introduce stablecoin payments for creators.

X has also strengthened its connection with the crypto industry. In March, Musk hired crypto veteran Benji Taylor as head of design at X, with his role also connected to xAI and SpaceX. Taylor previously led design at Coinbase’s Base blockchain network and has experience with crypto wallets and decentralised finance.

Meanwhile, X is changing the way it rewards creators. The company recently announced that its long-running Revenue Sharing programme would be phased out in favour of the Original Content Rewards Program.

The new system is intended to reward creators for bringing original ideas, expertise, reporting, creativity and commentary to the platform. If stablecoins are eventually added to this system, creators could have another way to receive their earnings, particularly those based outside the US.

As of right moment, neither the launch date nor the final payment plan are finalized. The talks are still in the exploratory stage, and X has not made it clear if it would compensate creators with USDC or another stablecoin.

Still, the development is worth watching. If one of the world’s biggest social media platforms begins paying millions of creators through stablecoins, it could give blockchain-based payments a much more visible role in the digital creator economy.

 

 

Stay informed with the latest trends in Web3, blockchain innovation, and cybersecurity updates at 3verseTV

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Written by
Kapil Rajyaguru -

Kapil Rajyaguru is a news editor at 3.0 TV with over 15 years of professional writing experience and more than four years dedicated to the cryptoverse.

An engineer by education and a writer by passion, Kapil brings a rare mix of technical insight and storytelling finesse. A firm believer that cryptocurrencies, blockchain and AI are the building blocks of the future, he crafts in-depth news and analysis to educate, empower and prepare the masses for the next frontier of Web3.

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