Solely every week after Tesla CEO Elon Musk introduced the automaker now accepts Bitcoin as cost, the carmaker has determined to launch its personal cryptocurrency. Introducing the very appropriately named X Æ A-12Coin. Like Bitcoin and different digital currencies, X Æ A-12Coin doesn’t exist in bodily type. However not like Bitcoin, it will likely be issued via a government: Tesla, Inc.

Musk stated on Twitter he plans to open a web-based financial institution by late summer time the place anybody, wherever on this planet, should buy X Æ A-12Coin. X Æ A-12, is, in fact, the identify Musk gave to his youngest son, born final 12 months.

The outspoken CEO added negotiations are at present going down with main retail corporations to simply accept the brand new forex. A listing of corporations was not offered for now. Nonetheless, the primary 412,021 X Æ A-12Coin clients who resolve to make use of the forex to purchase a brand new Tesla Mannequin S or some other automobile within the lineup, together with a Cybertruck pre-order, will obtain a ten % low cost.