Thanks to a partnership with eToro, Twitter users can soon trade stocks, cryptocurrency, and other assets directly from the social media platform. According to CNBC, the update will be available on the Twitter app on Thursday, i.e., April 14th.
It’s worth noting that Twitter’s owner, Elon Musk, began his quest to acquire the social media network on April 14, 2022.
A year later, he is releasing one of the platform’s most significant improvements in partnership with eToro. Before this, the Twitter world has come across various changes and news on their favorite platform in 2023.
Precisely, the globally renowned and popular platform announced its partnership with Stripe Payments in January 2023 to introduce the ‘Coins’ feature for rewarding tweets. Adding more to Twitter’s recent updates and trends, Elon also brought DOGE to the platform by changing the platform’s classical ‘blue bird’ logo to the Dogecoin logo.
Now as per its recent update, Twitter currently features a “cashtag” function that allows users to monitor real-time trading data from several platforms. Nevertheless, with the Twitter-eToro agreement, the “cashtag” function will be expanded to incorporate other instruments and asset classes, including cryptocurrency trading. The social media platform will also have a “View on eToro” option, redirecting users to the eToro website.
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. As part of this official announcement, eToro’s CEO, Yoni Assia, told CNBC that:
“This partnership will enable us to reach those new audiences [and] connect better the brands of Twitter and eToro.”
Elon Musk’s Grand Plan to Transform Twitter into X “An Everything App”
In late 2022, Musk paid $44 billion to Twitter. He is also the CEO of SpaceX (formerly Space Exploration and Technology Corp), the CEO of Tesla, the founder of the Boring Company, and the co-founder of Neuralink and OpenAI.
However, Musk had a long-held dream of expanding Twitter. In October 2022, he tweeted that the Twitter acquisition was “an accelerant to producing X, the everything app.”
Talking about his efforts towards creating X, Musk stated last month at a Morgan Stanley conference that he wants Twitter to “become the world’s largest financial institution.” He further said that he wants X to become a peer-to-peer mobile payment platform where users could earn interest on their money, similar to a bank. Before this conference, Elon Musk also spoke about his plan to make his app provide more services, such as ride-hailing and food delivery.
Following the same plan, eToro announced on Thursday that the game plan involves giving users access to real-time prices of assets such as cryptocurrencies and stocks and making trading those items easier. Having said that, Twitter’s Cashtags function will make trading data available. Cashtags, introduced in 2012, allow users to engage with content surrounding an asset by putting a dollar sign in front of the ticker.
Now considering Musk’s plans and its steady and well-integrated efforts to transform Twitter into X, we can envision Twitter becoming a hit as an all-rounder platform very soon.
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