Recently, Twitter has partnered with eToro, a social investment and trading network, to launch a new feature on the Twitter app. This Twitter crypto trading feature enables users to invest in cryptos and stocks using the eToro platform. According to the company, this crypto exchange development will provide new ways to monetize users and pay content creators.
Under the leadership of Elon Musk Twitter is focussing on offering a wide range of services. The platform’s collaboration with eToro is a step towards this goal. It is the first notable partnership after Musk becomes the CEO of Twitter.
The Twitter crypto trading feature enables users to purchase and sell stocks or cryptocurrencies. It lets users see the latest market charts on various financial instruments.
Twitter users can search for a ticker symbol with a dollar sign ($Cashtags) like $BTC or $ETH to view their real-time prices. The platform takes the data from a market data provider-TradingView. Further, the platform has added a ‘view on eToro’ button that will direct users to the eToro site for asset trading.
Before this feature, the platform was showing live price charts for fewer financial assets. This partnership has led to the addition of more instruments and asset classes.
Its CRO, Yoni Assia, is enthusiastic about this merger. According to him, the collaboration between eToro and Twitter will assist both brands in reaching new audiences.
eToro is a social investment and trading network that enables its users to trade commodities, stocks, currencies, and more. Since its inception in 2007, the platform has gained over 32 million registered user bases across Europe, Asia, and the USA.
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In late 2022, Musk acquired the social media service in a $44 billion deal. Apart from being the CEO of Twitter, Elon is also the CEO of SpaceX and Tesla. Additionally, he is the founder of Boring Company and co-founder of OpenAI and Neuralink.
Musk has initiated various reorganizational steps on the platform, including subscription-based plans and laying off employees.
He had the vision of broadening Twitter services for quite a while now. He even tweeted about an everything app, X, after the Twitter acquisition. Musk wanted to make X a peer-to-peer (P2P) mobile payment platform that lets users generate profit or interest like a traditional bank.
Twitter aims to become a super app with the addition of new services and this partnership is a step towards this goal.
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Elon Musk wants to make Twitter the biggest financial institution in the world and the partnership between Twitter and eToro may seem like the beginning of this transformation. Now, the social media platform is offering its users greater access to financial instruments. Individuals can track real-time data for multiple assets using this newly added ‘$Cashtags’ feature.
If you want to add a similar feature to your app, you can contact our crypto experts.