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.

It looks like Elon Musk's X wants to get in the ring with Venmo and Zelle. The social media platform says it's partnering with Visa, one of the largest credit card processors in the US, to create X Money,

Elon Musk's X has struck a deal with Visa to launch a Venmo-like digital wallet and peer-to-peer payment system for the app’s upcoming “X Money” service. As part of the deal, Visa Direct will allow X Money account holders to connect their debit cards to X,

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 Money could eventually compete with PayPal, the payment services company that was formed after Confinity merged with the Elon Musk-run X.com bank in 2000. The billionaire has had plans to launch a payments platform for over two decades, and they could finally come to fruition later this year with the launch of X Money.

X Inc., the company previously known as Twitter, announced today that it has signed a deal with Visa Inc. to become a founding partner for X Money Account, a new service that will provide a digital wallet and peer-to-peer payments.

X-Money uses Visa Direct to transfer money between users and also allows money transfers to your bank account. Payment functions will be added later this year.

Elon Musk is nearly everywhere. He already boasts a presence in electric vehicles, artificial intelligence, social media, and politics. Now, he appears to be carving out a space in financial services.

Elon Musk’s social media platform, X, is taking a big step towards becoming a financial hub. They’ve just announced a partnership with Visa to handle person-to-person payments for their upcoming X Money product.