Twitter’s announcement of its partnership with eToro has surprised the financial world. Twitter users will now have the option to purchase stocks, cryptocurrencies, and other financial assets directly through the app, making Twitter a one-stop shop for social media and finance.
In addition to the eToro partnership, Twitter had previously launched a “cash tag” feature that allowed users to view real-time trading data for index funds and select companies. The feature works with TradingView’s API, a charting platform for investors and traders.
However, the eToro partnership will expand the cash tag functionality to cover more assets and products. A “View on eToro” button will also be added, allowing users to navigate to the trading firm’s website and place trades.
Founded in Israel in 2007, eToro is a popular online brokerage with over 32 million users worldwide. It allows investors to mimic other users’ trading strategies, making it a popular choice for new investors looking to learn from experienced traders.
This move is part of Musk’s larger plan to create a “super app” that offers travel and financial services in addition to social media. As part of this effort, Musk has reportedly ordered thousands of graphic processing units (GPUs) for artificial intelligence projects.
Only time will tell where Musk will take Twitter from here, but for now, it looks like Twitter is in for a major redesign. This move also opens up new opportunities for Twitter users to invest in financial markets, making it a more holistic platform for social media and finance.