Through a partnership with social trading platform eToro, Twitter will provide access to stocks, cryptocurrencies, and other financial assets for its users.
On the Twitter app, a new feature will go live on Thursday. Users will be able to watch market charts on a wider variety of financial instruments and buy and sell stocks and other assets via eToro.
Currently, TradingView’s real-time trading data is available for index funds like the S&P 500 and select stocks, including Tesla. You may achieve so by searching for a ticker symbol and adding a dollar sign in front of it in Twitter’s “cashtags” feature. The app will then display price information from TradingView utilizing an API (application programming interface).
Twitter cashtags will now cover a lot more products and asset classes owing to the eToro relationship.
What does eToro do?
eToro is an online brokerage that users can use to buy and sell stocks, cryptocurrencies, and index funds. It was established in Israel in 2007.
One of its most well-liked functions enables users to emulate the trading tactics of other users. More than 32 million users have enrolled with the business across Europe, Asia, and the United States.
Since Elon Musk became CEO and acquired the platform for $44 billion last year, Twitter’s cooperation with eToro represents a unique and significant economic deal.
Twitter’s personnel was drastically reduced under Musk’s leadership, going from 8,000 to 1,500 when he came over, in an effort to slash costs and turn a profit.
His actions have alarmed advertisers, who are fleeing the platform in fear that its standards for content filtering would deteriorate.
It is Musk’s goal to transform Twitter into a so-called “super app.” Users of these apps typically have access to a variety of services, including travel, banking, and instant messaging.