- Twitter partnered with eToro to expand its Cashtag feature for real-time stock and crypto info.
- Users can now access a broader range of asset prices in real time on Twitter.
- The partnership with eToro allows users to engage in trading activities through Twitter.
eToro recently announced its partnership with Twitter, which allows users to access real-time information on a more extensive selection of stocks, cryptocurrencies, and other assets. This new feature is an expansion of Twitter’s Cashtag function, which previously relied on TradingView data to provide limited details on stocks and crypto coins.
In its tweet, eToro stated that users can now view real-time prices for a broader range of assets.
In December, the social media giant initially launched this capability, enabling users to look up a ticker or coin symbol, such as $TSLA, $APPL, or $ETH, to instantly retrieve the corresponding prices within search results.
Apart from displaying real-time data, the collaboration with eToro offers users the ability to engage in trading activities. When users search for a particular stock on Twitter, they will be presented with a “View on eToro” button, which will redirect them to the eToro site where they can initiate trading.
It is worth noting that when Twitter first introduced the Cashtag feature in December, it also included a “View on Robinhood” button. However, the new partnership with eToro has replaced Robinhood as the primary platform for trading activities within Twitter’s ecosystem.
Nevertheless, it remains unclear whether eToro is paying any fees to Twitter for user referrals generated through Cashtags that result in completed transactions on the eToro platform. When approached for comment on the nature of their commercial arrangement with Twitter, eToro declined to provide any further details.
Yoni Assia, the CEO of eToro, revealed in an interview with CNBC that the company observed many of its users utilizing Twitter to discuss various financial markets. Assia stated, “As we’ve expanded significantly over the last three years, we’ve noticed an increasing number of our users utilizing Twitter to educate themselves about the markets and interact with one another.”
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.
Yoni Assia, eToro DEO
After Elon Musk’s takeover of Twitter, the company expressed its desire to become a significant player in the financial industry. In November, the Tesla CEO hinted that Twitter was laying the groundwork for users to transfer money to each other. He also mentioned that Twitter plans to offer a high-yield money market account in the long run.
During his appearance at the Morgan Stanley conference in March, Musk emphasized that Twitter has the potential to become a financial giant. He stated, “Essentially, I believe that by providing people with convenient payment options, it’s possible for Twitter to become the largest financial institution globally. We don’t have enough time to delve into details now, but if we continue to enhance the app’s utility, more people will use it, and it will be remarkable.”
