- Effective Thursday, Twitter users can trade crypto from the brokerage firm.
- The offering would be accessible through the ‘$Cashtag’ feature with additional financial instruments.
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Twitter is partnering with eToro to allow users access to cryptocurrencies and stocks, among other financial assets, on the social trading platform.
The announcement was first featured on CNBC and later confirmed on eToro’s Twitter page that the new feature would appear on the Twitter app beginning Thursday. It would let users view trading charts for a wider range of financial assets through the ‘$Cashtag feature.
Twitter currently enables viewing live trading data with TradingView for Index funds and stocks of major companies. With the $Cashtags, users can search for a ticker symbol by inserting the dollar sign before a stock of the crypto ticker symbol, and the price data appears.
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More than 420 million ‘$Cashtag’ searches in 2023
In the partnership, Twitter will include more “$Cashtags” with the new feature, including a link to the eToro website letting users invest, Yoni Assia, the CEO of eToro, said.
“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 said. He added that that number has expanded to more than 420 million searches since the beginning of the year.
Since acquiring the social media platform late last year, Elon Musk has been pushing his ambition of making Twitter a ‘super app’ offering, among other things, financial services and support for cryptocurrencies.
Chris Riedy, vice president of global sales and marketing at Twitter, commented: “We are pleased to partner with etoro to provide Twitter users with additional market insights and greater access to investment capabilities. Twitter will continue to invest in the growing FinTwitter community.”
Amidst the partnership, there is a new twist in the relationship between eToro, the SEC licensed-digital asset broker, Twitter, and Ripple, and the case facing the latter. According to Digital Asset Investor’s findings, eToro has the largest XRP holders. With the entry of Twitter, speculations are high that the digital asset could rise despite the legal matter.
Based in Tel Aviv, Israel, and founded in 2007, eToro operates as an online brokerage platform, letting users buy and sell financial assets, including stocks, cryptocurrencies, and index funds, serving more than 30 million registered users.
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