X, previously known as Twitter, is set to unveil its peer-to-peer payment system and incorporate Artificial Intelligence (AI) into its platform within the upcoming year.

As outlined in a blog post on Tuesday, the company expressed that this service will offer “more user utility and new opportunities for commerce, and showcasing the power of living more of your life in one place.”

If X proceeds with a P2P payment service, it would be Elon Musk’s second involvement in such an initiative. In 1999, the current owner of X established an online payments company named X.com, which later merged with a startup, ultimately evolving into PayPal.

In its blog post, the company said “X is not just another app — it’s becoming the everything app, seamlessly uniting experiences into one interface, for everyone.”

Apart from introducing peer-to-peer payments, the company has outlined its 2024 focus on several key areas. This includes a heightened integration of AI, the implementation of a feature enabling users to encounter diverse posts challenging their perspectives, and the establishment of partnerships aimed at augmenting advertising.

Since Elon Musk acquired the company, previously recognized as Twitter, for $44 billion in October 2022, X has undergone a transformative process marked by numerous, and at times controversial, changes. This includes the renaming of the platform to X in July of the following year.