Elon Musk’s social media platform, X, announced on Jan. 28 that it’s teaming up with Visa to launch a digital wallet and peer-to-peer payments service. The deal makes ‘X Money’ the first product of its kind on the platform.

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.