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.

Elon Musk-owned social network X announced a partnership with Visa to handle person-to-person payment for its upcoming X Money product. The company will

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",

Elon Musk struck a deal with Visa Inc., naming the payments company the first major partner on his mission to turn X into an “everything app.”

Visa will be the first partner of the X Money account, under which customers can instantly fund their X wallet and connect their debit cards for peer-to-peer payments.

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.