The world's richest man, now firmly embedded in the Trump administration, has lost over $11 billion since the start of the year.

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 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,

X Users Will Be Able to Transfer Funds, Pay Each Other Visa is set to become the first financial services partner for X, formerly Twitter, the companies announced Tuesday. Users will be able to transfer money from Visa debit cards or bank accounts to "X Money" accounts hosted on the platform.

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,

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.