Adedapo Adesanya
By Adedapo Adesanya
Twitter will let its users access stocks, cryptocurrencies and other financial assets through a partnership with eToro, a social trading company.
Starting Thursday (today), a new feature will be rolled out on the Twitter app to enable users to view market charts on an expanded range of financial instruments and buy and sell stocks and other assets from eToro.
Users can view real-time trading data from TradingView on index funds like the S&P 500 and shares of some companies such as Tesla. That can be done using Twitter’s “cashtags” feature — this is done by searching for a ticker symbol and inserting a dollar sign in front of it, after which the app will show you price information from TradingView using an application programming interface (API).
With the eToro partnership, Twitter cashtags will be expanded to cover far more instruments and asset classes, an eToro spokesperson told CNBC.
Users will be able to click a button that says “view on eToro,” which takes them through to eToro’s site, and then buy and sell assets on its platform. EToro uses TradingView as its market data partner.
The partnership marks a rare and noteworthy business deal for Twitter since Mr Elon Musk took ownership of the platform for $44 billion last year.
Founded in Israel in 2007, eToro is an online brokerage that lets users buy and sell stocks, cryptocurrencies and index funds.
Among its most popular features is a function that allows people to mimic the trading strategies of other users. The company has more than 32 million registered users across Europe, Asia and the United States, Assia said.
Twitter added pricing data for $Cashtags in December 2022. Since the start of 2023, there have been more than 420 million searches for Cashtags, with the number of searches averaging about 4.7 million a day.
This is an early indicator of plans by Mr Musk to turn Twitter into a super app. Super Apps offer users a range of services such as instant messaging, ride-hailing, banking, and travel, among others.
