Twitter has partnered with the investment platform eToro to show
real-time information about stocks and crypto prices. This expands upon the
social network’s Cashtag feature, which provided info about a limited number of
stocks and crypto coins through Trade View data.
The social media company first introduced the feature in
December, letting users search for a ticker or coin symbol like $TSLA, $APPL or
$ETH to get prices directly in search results.
In
a tweet announcing the feature, eToro said that users will be able to see the
real-time prices for a “much wider range of stocks, crypto, and other assets.”
The new partnership
with eToro goes beyond just displaying information. It also redirects users to
the eToro site where they can engage in trading. If you search for a stock on
Twitter, you will see a button saying “View on eToro,” which redirects to the
site.
It’s not clear if the trading company is paying any fees to
Twitter if a user comes to the platform via Cahstags and completes a
transaction. We have asked the company for a comment and eToro said it can’t
comment on this commercial agreement with Twitter.
Yoni
Assia, eToro’s CEO, told CNBC in an interview the company noticed
that a lot of its users are using Twitter to talk about different financial
markets. “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,” he told the publication.
“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.”
Speaking
at the Morgan Stanley conference in March, Musk said Twitter had the potential to become a financial
behemoth.
“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 go into it in detail here, but if we just make the app more and more
useful, people will use it more and it’ll be great,” he said.
