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.

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,

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,