Elon Musk, the CEO of Twitter, has made several modifications to the microblogging site in order to monetize the platform and increase the company’s revenue. Previously, the entrepreneur divulged his intentions to transform the social media platform into a super app. According to reports, the company has partnered with eToro, an Israel-based social trading company. This partnership will facilitate access to equities, cryptocurrencies, and other financial assets for Twitter users.
According to a CNBC report, the social media company may soon introduce a new feature known as “Cashtags.” Users will be able to observe market charts for multiple financial instruments. With this feature, Twitter users will be able to purchase and sell stocks and other assets directly from the eToro search interface.
How this function will operate
TradingView is a platform that allows users to observe real-time trading data for index funds such as the S&P 500 and to exchange information about companies such as Tesla. According to the report, Cashtag will enable Twitter users to search for a ticker symbol and append a dollar sign. This will allow consumers to access TradingView’s price information via an API (application programming interface).
According to a representative of eToro, this partnership will assist Twitter in expanding Cashtags to include more financial instruments and asset classes. In addition, the report notes that this feature has already begun spreading out on the Twitter app.
eToro is an online brokerage platform that facilitates the purchase and sale of equities, cryptocurrencies, and index funds. According to the report, the company was founded in 2007 and its platform can imitate the trading strategies of other users. Yoni Assia, the CEO of eToro, has stated that the company has more than 32 million registered consumers in Europe, Asia, and the United States.
Assia added, “As we’ve grown tremendously over the past three years, we’ve observed an increasing number of our users interacting on Twitter and educating themselves about the markets.There is very high-quality, real-time content on the financial analysis of companies and current world events. We believe this partnership will allow us to reach new audiences and better integrate the Twitter and eToro brands.”