- Twitter users can now purchase cryptocurrencies and stocks directly through the social media platform thanks to a new partnership with eToro, an Israel-based social trading and investment company.
Up to this point, Twitter users have been able to use “cashtags” – which can be accessed by inserting a ‘$’ sign in front of a ticker symbol – to view real-time trading data on indexes like the S&P 500 and shares of some companies such as Tesla from TradingView, but had no simple way to purchase assets directly through the platform.
“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,” said Yoni Assia, CEO of eToro. “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.
The partnership announcement comes as Twitter CEO Elon Musk is looking for additional revenue streams after purchasing the social media platform for $44 billion last year. It also aligns with the longstanding rumors that Musk is looking to create an ‘everything app’ – dubbed ‘X’ – which would include messaging and video chatting, the ability to facilitate payments and trade assets, play video games, share photos, hail rideshare and delivery services, shop, and more.
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