Twitter is set to launch a new feature that allows its users to access stocks, cryptocurrencies, and other financial assets through a partnership with fintech company eToro.
The collaboration will focus on expanding Twitter’s cash tags to cover many more instruments and asset classes, according to an eToro spokesperson.
According to a CNBC report, the Elon Musk-led social media giant plans to allow users to view market charts on an expanded range of financial instruments and buy and sell eToro shares and other assets. This would expand the already existing “cash tags” feature, which currently includes real-time trading data from TradingView on index funds like the S&P 500, as well as stocks from some companies like Tesla.
Following the development, Yoni Assia, CEO of eToro, commented
“As we’ve grown tremendously in the last three years, we’ve seen more and more users engage on Twitter (and) learn about the markets. There is very high-quality content, real-time content about financial analysis of companies and what is happening around the world. We believe this partnership will allow us to reach these new audiences (and) better connect the Twitter and eToro brands.”
The latest integration aligns with Musk’s master plan to turn Twitter into an “everything app.” Earlier this week, the billionaire executive changed Twitter’s corporate name to X Corp after merging with a shell company of that name.
Push for crypto payments
It was previously reported that Musk was pushing his plans for Twitter payments. As such, the CEO directed the developers of the social media platform to design their payment systems so that cryptographic functionality can be added in the future.
Initially, payment systems will be designed for fiat currencies and crypto payments will be integrated when the opportunity arises.
The company has applied for state regulatory licenses in the United States to be eligible to make payments on its infrastructure. It had already registered with the US Treasury as a payment processor in November last year.
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