- The announcement marks it as a rare deal for Twitter since Elon Musk’s $44B takeover.
- Musk wants to transform Twitter into a “super app” with financial services and social media.
eToro, a trading company, has partnered with Twitter to enable users to access financial assets, including stocks and cryptocurrencies, reported CNBC. Twitter users can also view market charts and trade assets on eToro through a new feature on the app.
Twitter’s “cashtags” feature enables users to view real-time trading data from TradingView for index funds such as S&P 500 and stocks like Tesla. Users can search for a ticker symbol with a dollar sign, and the app will display price information from TradingView via an API.
According to a spokesperson from eToro, the Twitter cashtags feature will cover a broader range of instruments and asset classes through their partnership.
In addition, users can click the “view on eToro” button, which will direct them to eToro’s platform, allowing them to buy and sell assets. eToro uses TradingView as its market data partner. Moreover, the CEO of eToro, Yoni Assia added:
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.
Assia also stated that Twitter provides high-quality, real-time content on financial analysis and global events. The partnership will allow eToro to reach new audiences and connect the brands of Twitter and eToro.
According to the CEO, “Fintwit” or financial Twitter is a growing trend on the app, used by many to find breaking news and updates on assets. Twitter played a crucial role in the retail trading boom in 2021.
It is also noteworthy that since the addition of pricing data for $Cashtags in December 2022, there have been over 420 million searches for Cashtags in 2023, averaging about 4.7 million daily.