Twitter, led by Elon Musk, is now developing a payment system that will support accepted currencies while also incorporating crypto functionality.

An IANS report, citing sources, said the payments feature will initially support fiat currencies. Neither Musk nor Twitter has confirmed the news.

“Mr Tweet” (Musk’s Twitter handle name) appears to have directed developers to create the platform’s payment system. Twitter has been teasing the addition of payments to its platform, as Musk wishes for it to become an “everything app” similar to China’s WeChat.

“Buying Twitter is an accelerator to creating X, the everything app,” Musk said in October last year, after acquiring the company for $44 billion. “I believe Twitter accelerates X by 3 to 5 years, but I could be wrong,” he added.

Later, images of “Twitter Coins” appeared on social media. Unconfirmed rumors circulated that Twitter was developing a wallet prototype that would support cryptocurrency deposits and withdrawals.

Musk’s “Twitter 2.0 The Everything App” will include encrypted direct messages, long-form tweets and payment capabilities.