Twitter Shows Ambition To Become Super App Through Partnership With eToro

Key Points:

• Twitter will allow users to access stocks, cryptocurrencies, and other financial assets through cooperation with the multi-asset investment platform eToro.
• Starting Thursday, eToro said, a series of new features will be rolled out to the Twitter app.
• Users can also click a “View eToro” button to go to eToro’s website and buy and sell assets on its platform.

Twitter users will soon be able to trade stocks, cryptocurrency, and other assets directly via the social media platform, according to a CNBC report, owing to a partnership with eToro.

Twitter users will be able to examine market charts for a broader range of financial instruments, as well as buy and sell cryptocurrency and other assets through eToro. The newest collaboration between the social media platform and the fintech startup will build on Twitter’s “cashtags,” which now enables users to access real-time trade data from TradingView.

In December 2022, Twitter introduced price information for cashtags. Since the beginning of 2023, there have been over 420 million searches for cashtags, with 4.7 million searches per day on average.

The new financial capabilities are accessible via a “view on eToro” option, which directs users to eToro’s trading platform.

The current collaboration would also be the social media giant’s first big transaction since Elon Musk took over as CEO after purchasing the social media network for $44 billion last year. Yoni Assia, CEO of eToro, described the collaboration as a natural fit and thought the tool would help introduce a new audience to the site.

Assia went on to say that Twitter contains high-quality, real-time material regarding financial events all across the globe. According to Assia,

“This partnership will enable us to reach those new audiences and connect better the brands of Twitter and eToro.”

In 2007, eToro was launched in Israel. One of the most notable aspects of eToro is the ability to copy the trading techniques of other users. In 2019, the fintech firm launched cryptocurrency trading tools as well as a cryptocurrency wallet.

Musk has stated his desire for Twitter to become a “super app.” These applications often provide customers with a variety of services like instant chat, banking, and travel.

The new feature, according to the article, will be available on the Twitter app on Thursday, April 14.

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Harold

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