Twitter enables users to access stocks, cryptocurrencies, and other financial assets through a partnership with eToro, a social trading company.
This information was disclosed by the company in an interview with CNBC news reporters.
According to Elon Musk the new feature will be rolled out on the Twitter app on Thursday. It will allow users to view market charts on an expanded range of financial instruments, buy, and sell stocks and other assets from eToro.
This feature will be enabled through a simple search for a ticker symbol followed by a dollar sign, Twitter’s “cashtags” feature already makes it possible to view real-time trading data from TradingView on index funds like the S&P 500 and shares of some companies like Tesla, and the app displays price information from TradingView via an API.
According to Yoni Assia, CEO of eToro, “As we’ve grown over the past three years immensely, we’ve seen more and more of our users interact on Twitter educate themselves about the markets.”
“There is very high quality, real-time content available on financial analysis of businesses and global events,” he continued. We are confident that this alliance will help us connect Twitter and eToro’s two brands with new audiences.
Assia also stated that its partnership with Twitter, cashtags will be expanded to cover far more instruments and asset classes.
You’ll also be able to click a button that says “view on eToro,” which takes you through to eToro’s site, and then buy and sell assets on its platform. EToro uses TradingView as its market data partner.
“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,” Yoni Assia, eToro’s CEO, told CNBC in an interview.
“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 partnership marks a rare and noteworthy business deal for Twitter since Elon Musk took the reins as CEO after buying 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.
