Twitter partners with eToro to let users trade stocks, crypto as Musk pushes app into finance
Twitter will let its users access stocks, cryptocurrencies and other financial assets through a partnership with eToro, a social trading company.
Starting Thursday, a new feature will be rolled out on the Twitter app. It will allow users to view market charts on an expanded range of financial instruments and buy and sell stocks and other assets from eToro, the company told CNBC exclusively.
Currently, it's already possible to view real-time trading data from TradingView on index funds like the S&P 500 and shares of some companies such as Tesla. That can be done using Twitter's «cashtags» feature — you search for a ticker symbol and insert dollar sign in front of it, after which the app will show you price information from TradingView using an API (application programming interface).
With the eToro partnership, Twitter cashtags will be expanded to cover far more instruments and asset classes, an eToro spokesperson told CNBC.
You'll also be able to click a button that says «view on eToro,» which takes you through to eToro's site, and then buy and sell assets on its platform. EToro uses TradingView as its market data partner.
«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,» Yoni Assia, eToro's CEO, told CNBC in an interview.
«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 marks a rare and noteworthy business deal for Twitter since Elon Musk took the reins as CEO after buying the platform for $44
Read more on cnbc.com
