Key Highlights
- Twitter partners with eToro: Twitter has teamed up with eToro to offer its 350 million users access to stocks, cryptocurrencies, and other financial assets.
- Trading within the Twitter app: Users can view market charts, buy/sell stocks, and track market data through eToro within the Twitter app, expanding the platform beyond social media.
- Expanded product offerings: Twitter’s “cashtags” feature will support a wider range of products and asset classes, potentially attracting new audiences and boosting profitability.
Twitter has partnered with online brokerage eToro to give its users access to stocks, cryptocurrencies, and other financial assets like index funds.
According to a statement the business gave CNBC on the same day, the new feature would be made available to more than 350 million users of the Twitter app on Thursday, April 13.
Users will be able to see market charts, buy and sell stocks and other assets through eToro, and track market data on other financial instruments thanks to this service.
This feature will be enabled through a simple search for a ticker symbol followed by a dollar sign, Twitter’s “cashtags” feature already makes it possible to view real-time trading data from TradingView on index funds like the S&P 500 and shares of some companies like Tesla, and the app displays price information from TradingView via an API.
There will be a much larger selection of products and asset classes supported by Twitter cashtags. To buy or sell assets on the eToro platform, for example, you can do so by selecting the “view on eToro” option, which will take you there.
According to Yoni Assia, CEO of eToro, “As we’ve grown over the past three years immensely, we’ve seen more and more of our users interact on Twitter [and] educate themselves about the markets.”
“There is very high quality, real-time content available on financial analysis of businesses and global events,” he continued. We are confident that this alliance will help us connect Twitter and eToro’s two brands with new audiences.
This agreement is a big business move for Twitter, which Elon Musk acquired for $44 billion last year and currently leads as CEO.
In an effort to cut costs and boost profitability, Twitter has substantially downsized its personnel since Musk became CEO, going from 8,000 to only 1,500.
