Elon Musk Tuesday said X Money, the social media platform's digital payment system, will enter early public access next month, as the billionaire pushes to transform X into an "everything app."

The move comes as the Tesla chief looks to take advantage of the platform's sizable user base and the growing trend of digital and in-app financial transactions to open new revenue streams for X.

X partnered with payment company Visa last year to help offer direct payment services to customers of the social media app.

Since buying X, formerly called Twitter, for $44 billion in 2022, Musk has touted a plan of making the platform an "everything app," aiming to offer a plethora of features including streaming, messaging, images, videos and payments.