Running 2 or more applications PPP

Hi, I had a doubt regarding point-to-point protocol. Is it possible for a single PPP link to enable running of 2 or more simultaneous applications between two hosts?

Thanks!

Hello is this related to any specific implementation on a product from Digi?
In general PPP does IP over serial line.
Applications using TCP/IP can share the same TCP/IP connection over PPP.
or do you want to establish two PPP connection through two serial ports?