Elon Musk just took another step toward turning X into a financial powerhouse. The platform is rolling out X Money, a digital wallet and peer-to-peer payment service backed by Visa ( NYSE:V ). This means X users can now move money between their bank accounts and X's ecosystemjust like Zelle or Venmo.

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Yet another person with ties to a network of powerful techno-billionaires is set to join the Trump administration.

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Musk's X.com teams up with Visa to launch X Money, a digital payment system enabling instant global financial services.

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As part of the deal, Visa Direct will allow X Money account holders to connect their debit cards to X, load money into a wallet, and make real-time transfers. The wallet will also allow funds to be transferred back to a bank account instantly.

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X has partnered with Visa to launch ‘X Money,’ a digital payment service that marks the platform's first major step into financial services.