Twitter has teamed with the investing site eToro to offer real-time information on stocks and crypto prices. This extends upon the social network’s Cashtag function, which gave knowledge about a restricted number of stocks and cryptocurrencies using TradingView data.
In December, the social media business released the function, which lets users search for tickers or currency symbols like $TSLA, $APPL, or $ETH to receive pricing in search results.
The new cooperation with eToro goes beyond merely showing information. It also refers users to the eToro site, where they may trade. So, for example, if you search for a stock on Twitter, you will notice a button reading “View on eToro,” which leads to the site.
In a tweet introducing the feature, eToro claimed that users could view the real-time pricing for a “much wider range of stocks, crypto, and other assets.”
It’s unclear if the trading firm is paying any fees to Twitter if a user arrives on the site via Cahstags and completes a transaction. We have approached the firm for a response, and eToro says it can’t comment on this commercial deal with Twitter.
eToro’s CEO, Yoni Assia, told CNBC in an interview the business found that a lot of its users are utilizing Twitter to chat about different financial markets. “As we’ve grown immensely over the past three years, we’ve seen more and more of our users interact on Twitter [and] educate themselves about the markets,” he told the outlet.
“There is high-quality, real-time financial analysis of companies and global events. We believe this cooperation will help us to reach those new audiences [and] link better the brands of Twitter and eToro.”
After Elon Musk took over Twitter, the firm had plans to become a large financial player. The Tesla CEO said in November that the social network is preparing members to transmit money. In addition, he stated the business would eventually provide a high-yield money market account.
Musk predicted that Twitter might become a financial giant at the March Morgan Stanley conference. “Basically, I think it’s possible to become the biggest financial institution in the world, just by providing people with convenient payment options. We don’t have the time to get into it in detail here, but if we just make the app more and more helpful, people will use it more and it’ll be great,” he said.
