Elon Musk is getting one step closer to making his X the “everything app” — by getting into personal finance. The social media platform formerly known as Twitter had already expanded beyond its initial scope when Musk first purchased it more than two years ago.

Musk once dreamed of making X the “biggest financial institution in the world,” taking the first step of launching a peer-to-peer payments competitor to PayPal’s Venmo, Block’s Cash App and bank-owned Zelle.

Visa will enable X users to move funds between traditional bank accounts and their digital wallet and make instant peer-to-peer payments, like Zelle or Venmo.

X’s deal with Visa, the largest U.S. credit card network, was announced by CEO Linda Yaccarino and will be dubbed X Money Account.

Visa is the first partner for the platform's “X Money Account" service, which is set to launch later this year, X CEO Linda Yaccarino said in a Tuesday post announcing the news. The offering, Yaccarino noted,

Elon Musk’s social media company, X, said on Tuesday that it was teaming up with Visa to provide financial services, in a step toward Musk’s plans of expanding it into an “everything app.” The new financial feature,

X has inked a partnership with Visa as the Elon Musk-owned social media platform seeks to become an “everything" app that offers peer-to-peer payments and other capabilities.

Payments giant Visa and Elon Musk's X are partnering to offer direct payment solutions to customers of the social media app, a person familiar with the matter told Reuters on Tuesday. The deal comes as the billionaire continues his efforts to transform the X platform into an "everything app",