Company X Considers Introducing Stablecoin USDC for Creator Payments

Company X is considering the introduction of stablecoins as a payment method for content creators.

It has been revealed that X, a company in the United States, is discussing the implementation of stablecoins, such as USDC from Circle, as a means to pay royalties to influencers and content providers for their uploads. According to CoinDesk, Elon Musk's X is exploring the use of stablecoins like USDC to facilitate these payments. If realized, this could transform the way rewards are distributed across borders. X has ended its previous revenue-sharing program on September 7 and will transition to an "Original Content Reward Program" starting September 8.

Under the new system, payments will be made for unique posts and commentary that do not infringe on others' rights, provided that certain requirements are met, such as having a verified follower count of over 500 or impressions from verified users exceeding 500,000 in the past 90 days.

With this change, the utilization of stablecoins is being considered to reduce remittance costs and improve speed. Traditional bank transfers have been criticized for their complexity and high intermediary fees, especially for creators outside the United States. By adopting dollar-pegged tokens, seamless transfers to recipients worldwide can be achieved using a single digital means.

Financial Platform Concept and X Money

This initiative aligns with Elon Musk's vision of an "Everything App," which centralizes various functionalities.

X is currently offering a payment service called "X Money" in the United States, providing account holding, peer-to-peer transfers, and debit card functionalities. Although the current infrastructure relies on existing banking systems, the company is also hiring talent with expertise in the cryptocurrency sector, indicating a preparation for the integration of Web3 technologies.

Moreover, stablecoins are already being utilized in some service payments in emerging countries by SpaceX, which is also led by Musk, showcasing the practical application of stablecoins in related companies.

Challenges and Prospects for Implementation

As the overall stablecoin market surpasses $300 billion (approximately 47.7 trillion yen), other platforms like Meta are conducting tests for USDC payments in certain regions.

Furthermore, in the United States, regulations for stablecoins at the federal level (such as the GENIUS Act) are being developed, making compliance with legal frameworks a focal point.

Currently, there has been no official announcement from Company X, and attention will be on how they respond at the start of the new program in September, including system construction and asset protection (custody) measures.

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