EToro to Offer Crypto Trading Directly to Twitter Users
Under the agreement the social investing firm will provide Twitter users with real-time prices for crypto, stocks and other assets while directing them to the eToro platform to invest.
Social investing platform eToro is set to offer trading services of crypto and other assets directly to Twitter users via an arrangement with the social media company, the firm announced Thursday.
The feature will provide Twitter users searching for "$Cashtags" such as $TSLA or $BTC with real-time prices for cryptocurrencies, stocks and other assets, and direct them to the eToro platform to invest in them.
"The partnership is global so Twitter users around the world will be able to access this $Cashtags feature," a spokesperson for eToro told CoinDesk following the publication of this article.
While Twitter users searching a $Cashtag symbol currently see live price charts for a limited range of financial assets, the partnership with eToro will "hugely" expand that list, a press statement shared with CoinDesk said. Since Twitter added pricing data for $Cashtags in December the social media platform has recorded 420 million searches, with the top five searches including Tesla ($TSLA), bitcoin ($BTC) and SPDR S&P 500 ETF ($SPY), according to Twitter internal data included in the press statement.
The news was first reported by CNBC and then confirmed by eToro on its official Twitter account.
The expansion of $Cashtags aligns with Twitter owner Elon Musk's plans to integrate financial services into the platform as part of his intentions to create a "super app."
Musk has previously said he wishes for Twitter's proposed payments system to be able to accommodate crypto as well as fiat currencies.
"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 growing the #FinTwitter community,” Chris Riedy, vice president of global sales and marketing at Twitter, said in the press release.
Twitter did not immediately respond to CoinDesk's request for comment.
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Update (April 13, 2023 11:34 UTC): Adds comment from eToro and details from press release throughout.
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