Microblogging platform Twitter has partnered with eToro, a multi-asset investment company that focuses on providing financial services, to enable users to trade stock, as Musk pushes the platform into an “everything app”.
Starting on Thursday, April 13, a new feature was unveiled on Twitter that allows users to view market charts on an expanded range of financial instruments and buy and sell stocks and other assets from eToro.
Currently, it is possible for Twitter users to view real-time trading data from TradingView on index funds like the S&P 500 and shares of some companies such as Tesla.
This can be done using Twitter’s “cashtags” feature, where users can search for a ticker symbol and insert a dollar sign in front of it, after which the app will show them price information from TradingView using an API (application programming interface).
This feature was first introduced by Twitter in December, letting users search for a ticker or coin symbol like $TSLA, $APPL, or $ETH to get prices directly in search results.
Speaking on its partnership with Twitter, eToro CEO Yoni Assia said, “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 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.”
The company via a Tweet wrote,
“Very excited to be launching a new $Cashtags partnership with Twitter which will enable Twitter users to see real-time prices for a much wider range of stocks, crypto & other assets as well as having the option to invest through eToro.”
Investors King understands that Twitter’s recent partnership with eToro goes beyond just displaying information on the prices of assets. It will also redirect users to the eToro site where they can engage in trading. If a user searches for any stock on Twitter, he or she will see a button saying View on eToro, which will automatically redirect to the site.
Twitter’s partnership with eToro is a step closer for Elon Musk who intends to turn the platform into a Super App. Ever since he acquired the microblogging platform for $44 billion in October 2022, Musk stated that he wants Twitter to offer fintech services such as peer-to-peer transactions, savings accounts, debit cards, etc.
Musk envisions Twitter as being similar to China’s WeChat, which incorporates multiple features such as financial services, messaging, and food delivery to keep users engaged and returning throughout the day.
In June last year, the billionaire entrepreneur made a reference to WeChat during an all-hands meetingwith Twitter employees. He told them that there was no WeChat equivalent outside of China, hence, it was a real opportunity to create that with Twitter.
