Twitter and the fintech company eToro are partnering to give users access to stocks, cryptocurrencies, and other financial assets through a new feature. The collaboration will expand Twitter’s “cashtags” to include a wider range of instruments and asset classes, according to an eToro spokesperson.
As reported by CNBC, Twitter plans to allow users to view market charts on an expanded range of financial instruments and buy and sell stocks and other assets through eToro. This will build upon the existing cashtags feature, which currently includes real-time trading data from TradingView on index funds like the S&P 500, as well as shares of some companies such as Tesla.
eToro’s CEO, Yoni Assia, believes that the partnership will connect Twitter and eToro brands to new audiences and help them reach a broader demographic.
“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. 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.”
This integration aligns with Elon Musk’s plan to make Twitter an “everything app.” Musk recently changed the company name to X Corp after merging with a shell company with that name.
Crypto Payments Push
Musk is reportedly pushing forward with plans to add crypto-functionality to Twitter payments. The CEO wants developers to design the payment system to incorporate such functionality in the future. Initially, the system will be set up for fiat currencies, but the integration of crypto payments will come at a later stage.
Twitter has applied for state regulatory licenses to become eligible to bring payments into its infrastructure, having already registered with the US Treasury as a payment processor last year.