In the near future, Twitter users will have the opportunity to reach stocks, cryptocurrencies, and other financial assets via a collaboration with eToro, a social trading business. Starting April 15, the Twitter app has featured a new tool that will allow users to view market charts for a wider range of financial instruments, buy and sell stocks and assets from eToro, and view real-time trading data from TradingView.
For example, typing #AAPL will show the latest data on Apple’s stock price, while typing #BTC will show the current value of Bitcoin. Users can also tap on the hashtag to see more details, such as charts, news, and analysis from eToro’s experts and community members. Twitter Finance will also enable users to buy and sell stocks and cryptocurrencies directly from Twitter, using their eToro account or creating a new one.
Since Elon Musk bought Twitter for $44 billion last year and named it CEO, this collaboration has been a remarkable and unusual business arrangement. According to an eToro spokesperson, this feature will broaden Twitter Cashtags to cover a lot more instruments and asset classes. The partnership aims to connect the brands of Twitter and eToro and enable the companies to reach new audiences.
eToro is an online brokerage that was established in Israel back in 2007, which offers its users the opportunity to buy and sell stocks, cryptocurrencies, and index funds. The company has more than 32 million registered users spread across Europe, Asia, and the United States. One of its most sought-after features is the ability for users to copy the trading strategies of other eToro users.
According to recent news, many brands had left Twitter due to concerns about its content moderation standards after Musk took over as CEO. However, Musk stated a week ago that “almost all” advertisers had returned to the platform. Musk’s ultimate goal is to transform Twitter into a “super app” that offers a variety of services, including instant messaging, banking, and travel.
This idea has already proven successful in East Asia with Tencent’s WeChat, which allows payments through its messaging app. Musk’s desire to create a super app is evident in his recent decision to change Twitter’s corporate name to X Corp after merging with a shell company of the same name. He has also expressed his goal for Twitter to become “the biggest financial institution in the world” during a recent Morgan Stanley conference.