Through a partnership with eToro, a social trading firm, Twitter will provide its users access to stocks, cryptocurrencies, and other financial assets. eToro is a company that specializes in social trading. The trade data will be accessible via Twitter’s Cashtags feature, which was introduced in 2012 and enables users to engage with material around an asset by placing a dollar sign in front of the ticker. This function will make the trading data available to users.
eToro, an online platform for trading and investing, said on Thursday that it has teamed with Twitter, which is run by Elon Musk, to provide users with access to the real-time pricing of cryptocurrencies, equities, and other assets, as well as to allow trading of such instruments.
🎉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. @elonmusk https://t.co/Iv2q9iNxbf
— eToro (@eToro) April 13, 2023
Previously, users of Twitter were able to access real-time trading data via the markets-charting platform TradingView. However, this was limited to just particular assets, such as the S&P 500 index and shares of certain firms, such as Tesla (TSLA.O). They now have the opportunity to invest in the asset after seeing information about it on the eToro site, which they may reach by clicking through to.
The new cooperation with eToro extends farther than the simple presentation of information. In addition to this, it will send visitors to the eToro website so that they may begin trading there. If you search for a stock on Twitter, you will notice a button that says “View on eToro,” which will take you to the website in question.
It is not quite apparent if the trading business is paying any fees to Twitter in the event that a user completes a transaction on the platform after arriving there through Cahstags.
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.
Yoni Assia, eToro’s CEO
Since Elon Musk took over as CEO of Twitter after purchasing the network for $44 billion a year ago, this relationship represents a significant milestone for the company in terms of its commercial activity.
