Elon Musk’s Twitter is promoting a partnership with cryptocurrency exchange eToro, with the aim of allowing users of the platform to trade stocks, crypto and other financial assets.
Starting Thursday, a new feature will appear on Twitter that will offer the ability to track market profiles with the goal of buying and selling stocks and other assets through eToro, as Yoni Asia told CNBC. At the same time, Twitter users will have access to eToro’s other financial tools.
Currently, it is possible to track trading data through Twitter’s Trading View, which provides access to indices such as the US S&P 500 and insight into specific stocks such as Elon Musk’s Tesla.
This is done through the use of “cashtags” (by searching for a stock symbol and typing in the dollar sign before entering the stock ticker, Twitter will display updates on the stock’s performance).
With the partnership with eToro, Cashtags on Twitter will be expanded to include more options for users and access to more assets.
A Twitter user will be able to click on a button that says “see it on eToro”, which will take them to the company’s platform to trade.
Founded in 2007, eToro has over 32 million users in Europe, Asia and the USA. Among the most popular options it offers its clients is the ability to “mimic” the trading strategies of other users.
It is worth mentioning that in a series of tweets on December 5, 2021, Elon Musk suggested that he wants to turn Twitter into a superapp that combines multiple features such as messaging, payments, and e-commerce.
Musk’s comments sparked speculation about his plans for Twitter, as he is a significant shareholder in the social media company.
Some analysts have suggested that Musk’s vision could be part of a broader strategy to create a new kind of social media platform that could compete with giants like Facebook and Google.
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