X is one step closer to finally launching its payments platform. According to X CEO Linda Yaccarino, the X Money service will debut “later this year” with Visa announced as its first partner.

NEW YORK (AP) — X is teaming up with Visa to soon offer a system for real-time payments on the social media platform — signaling some progress in a yearslong vision from billionaire owner Elon Musk to create an “everything app.”

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",

“In study after study, as well as our lived experiences, X has become a platform that promotes hate, antisemitism, and societal division. Under the leadership of Elon Musk, X has reduced content moderation, promoted white supremacists, and re-platformed purveyors of conspiracy theories.”

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,

Musk has tried several different ways to boost X’s profits, including making users pay for verification, something that had previously been given to users of notoriety and journalists. On Tuesday, the company’s CEO Linda Yaccarino announced a new deal with Visa for peer-to-peer payments on X.

More than a dozen U.S. and Canadian Jewish groups said Tuesday they will leave the social media platform X, stating it “has become rife with toxic speech” amid Elon Musk’s

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 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.

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.