Starting Thursday, Twitter will allow users to buy and sell stocks and other assets through a partnership with eToro, according to the report. The deal will be one of the most important steps to implement Twitter payments and make it the Everything App.
Twitter will provide its users with access to financial asset management
Twitter will give its users access to stocks, cryptocurrencies, and other financial assets through a partnership with eToro. The news first appeared on CNBC, which received it exclusively from eToro. The new feature will allow users to view market charts for a wider range of financial instruments, as well as buy and sell stocks and other assets on eToro.
Cashtags are already active on Twitter
At the moment, users have already received access to view TradingView trading data in real-time. This is possible through the « cashtag » feature on Twitter. Users can write a dollar sign in the search bar and add a stock ticker; after confirmation, the app shows you price information from TradingView via API (Application Programming Interface).
The new partnership will expand opportunities for Twitter users
eToro said that through this partnership, Twitter cashtag will be expanded to cover many more tools and asset classes. Clicking the « View on eToro » button will take the user to the eToro website, where they can then buy and sell assets.
“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.”
Adding financial asset management to Twitter is an important step towards the Everything App
Elon Musk has long talked about how his goal is to turn Twitter into an application that will have everything from basic communication to online payments. He spoke of it as something similar to the Chinese WeChat. The functionality for communication in the application continues to grow and more opportunities for earning money for content creators will be added soon. Adding the ability to manage financial assets will open up more growth opportunities for Twitter and be a big step in its transformation into the Everything App.
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