Twitter has announced a partnership with eToro to enable its users to transact in stocks and other assets directly through the app. This move is part of Twitter’s strategy to broaden its offerings and stay up with the fast-paced financial sector. Users will be able to purchase and sell assets from the eToro platform via the Twitter official app once the service goes live on Thursday. This action might be a key step towards Twitter becoming a more complete financial platform and follows Elon Musk’s lead, who has been encouraging Twitter to enter the banking industry.

Twitter’s Cashtags Now Show Live Trading Data from TradingView

Now, index stocks like the S&P 500 and specific firms like Tesla can display real-time trading data from TradingView. Users of Twitter’s “cashtags” feature may look up ticker symbols, place dollar sign directly in front of it, and access price data from TradingView through an API. This implies that stock market participants may keep track of the price of stocks in real time and base judgments on the most recent information.

As per an eToro spokesman who talked to CNBC, Twitter cashtags will now cover a far wider range of products & asset classes. Users may now visit the eToro platform and buy or sell assets by clicking the “view on eToro” button. TradingView, eToro’s market data partner, gives customers access to real-time trading data. By using this tool, investors may base their investing decisions on the most recent market data.

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The CEO of eToro, Yoni Assia, told CNBC in an interview that more people are using Twitter to interact and learn about the markets as a result of the company’s rapid growth over the previous three years. This shows that social media is becoming a more crucial instrument for investors to use to keep updated and knowledgeable about the financial sector.

eToro’s Popular Feature Lets Users Mimic Trading Strategies

One of its most well-liked features is a tool that lets users emulate the trading tactics of other players. According to Assia, the corporation has over 32 million users who are registered across Europe, Asia, and the United States. Twitter has drastically reduced its workforce since Musk became CEO, going from having 8,000 employees to only 1,500 as of his appointment, to decrease expenses and turn a profit. eToro thinks social media is a crucial instrument for investors to use to keep updated and knowledgeable about the financial world.