Twitter to offer trading in crypto, stocks, but here’s an interesting fact
- Twitter has teamed up with an online brokerage firm to offer more than 350 million of its users crypto and stock trading.
- The partnership seems to be a part of new Twitter owner Elon Musk’s plan to make the social media platform a super app.
Twitter has teamed up with eToro, an online brokerage firm, to offer more than 350 million of its users, access to a range of financial assets, including cryptocurrencies, stocks, and index funds.
As per a recent CNBC news report, the new service, called $Cashtags, will provide Twitter users with real-time price information for various assets and direct them to the eToro platform to invest in them. The service will be available to users beginning 13 April.
Twitter’s existing “cashtags” feature enables users to view real-time trading data from TradingView on index funds such as the S&P 500 and shares of some companies like Tesla by searching for a ticker symbol preceded by a dollar sign. The app displays the price information from TradingView via an API.
The new Twitter cashtags will offer users a wider variety of instruments and asset classes, and the “view on eToro” option will allow them to purchase or sell assets on the platform. In this matter, Yoni Assia eToro CEO said:
“There is very high-quality content, real-time content on financial analysis of companies and what’s happening around the world. We believe this partnership will enable us to reach those new audiences [and] connect better the brands of Twitter and eToro.”
Is Elon Musk reshaping the bird app?
The partnership seems to be a part of new Twitter owner Elon Musk’s plan to make the social media platform a super app.
After acquiring Twitter last year, Musk has been bringing a range of changes to the platform, such as offering decentralized social media, micropayments, gaming, food deliveries, ride-sharing, and shopping through a single app.
The Tesla CEO is also reportedly investing tens of millions in building an artificial intelligence (AI) project for Twitter.
According to a filing on 4 April, Twitter has merged with a shell company called X Corp; a court filing read.