SpaceX Uses Stablecoins for Starlink Payments, Targeting 50 Million Subscribers and $50B in Revenue with XCoin

SpaceX, the aerospace company founded by Elon Musk, has begun utilizing stablecoins to manage payments from its Starlink satellite internet service. According to Chamath Palihapitiya, SpaceX collects payments from Starlink customers in various countries and, to mitigate foreign exchange risks, converts these payments into stablecoins before transferring them to the U.S. and converting them back into U.S. dollars. This method allows SpaceX to avoid the complexities associated with traditional wire transfers. The potential for Starlink to reach 50 million subscribers could result in approximately $50 billion in international revenue, leading to speculation about the creation of a proprietary stablecoin, referred to as XCoin, for better control over transactions.