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 payments for its upcoming X Money product. The company will

X Users Will Be Able to Transfer Funds, Pay Each Other Visa is set to become the first financial services partner for X, formerly Twitter, the companies announced Tuesday. Users will be able to transfer money from Visa debit cards or bank accounts to "X Money" accounts hosted on the platform.