Twitter is turning into a more crypto-friendly space, now letting users buy and sell stocks and crypto assets from the eToro platform
Image: unsplash.com
As reported by CNBC, the social media platform Twitter will let its users access stocks, cryptocurrencies and other financial assets through a partnership with eToro, a social trading company.
Expansion of the $Cashtags function will enable Twitter users to see real-time prices for a wide range of stocks, crypto & other assets as well as invest through eToro.
Twitter added pricing data for $Cashtags in December 2022. Since the start of 2023, over 420 million searches for Cashtags were registered, with an average daily search number of about 4.7 million. “Fintwit,” or financial Twitter, has become a popular trend on the app, allowing people to find breaking news and updates on stocks and other assets.
Previously, one could track index funds like the S&P 500 and shares of some companies such as Tesla on Twitter, searching for the chosen ticker symbol preceded by a dollar sign. Those prices were shown enabled by the real-time trading data from TradingView.
From now on, customers will also be able to view assets directly on eToro, further proceeding to assets trading on its platform.
Founded in Israel back in 2007, eToro is a trusted online brokerage that lets its 32 million registered users buy and sell stocks, cryptocurrencies and index funds. It offers a unique function that allows people to mimic the trading strategies of other users.
The deal is the first significant strategic partnership of Twitter since Elon Musk bought the platform for $44 billion last year and became its CEO. With the change of leadership, the vision was for Twitter to turn into a so-called “super app,” offering a range of additional services e.g. instant messaging, banking or travel.
