Elon Musk bring finance to social media platform. Twitter will allow its users to access shares, cryptocurrencies and other financial assets thanks to the new partnership with eToroa social trading company.
In the US starting today, the new feature will roll out to the Twitter app and will allow users to view market charts on a range of financial instruments and buy and sell shares and other assets from eToro.
Twitter, la partnership con eToro
Thanks to the partnership with the trading platform, i $Cashtagalready active on Twitter, will be expanded to cover many more instruments and asset classes.
There will also be a click-on-a-button option that opens the “view on eToro” option, and will automatically take users to the trading platform’s website, according to an eToro spokesperson told CNBC. buy and sell assets available on the trading platform.
“We have grown immensely over the last three years, we have seen more and more users interacting on Twitter and educating themselves on the markets“, he said in an interview with CNBC Yoni AsiaCEO of eToro.
“There is very high quality content, real-time content on the financial analysis of companies and what is happening in the world” – continues – “We believe this partnership will allow us to reach new audiences and better connect the Twitter and eToro brands“.
The partnership, announced today, is part of the social platform’s transformation following the $44 billion acquisition of Musk. After Musk’s arrival at the top of the company, Twitter began a workforce reduction process, cutting the number of employees from 8.000 a 1.500 in an effort to reduce costs and achieve profitability.
His actions initially scared advertisers, and many brands had abandoned the platform in light of concerns that its content moderation standards would slip. But just yesterday, the billionaire claimed that “nearly all” advertisers have returned to the app. However some names such as for example Stellar e Volkswagenhave no plans to resume advertising.
“Fintwit”, the transformation
“Fintwit”, or twitter financial, is already one popular trend on the appwhich many users use to find live updates on stocks, indices and other assets.
Twitter made price data for $Cashtags available in December 2022. Since the start of 2023, there have been more than 420 million of searches of Cashtagswith an average of approx 4.7 million of searches per day.
But it’s no secret that Musk’s new Twitter strategy is to turn it into a super app – one that offers users a range of services such as instant messaging, banking and travel.
The concept, however, has proved very popular in East Asia. One example is Chinese tech giant, Tencent, which offers payment services through its messaging app WeChat.
We also recall that earlier this week, Twitter changed its name and is now called XCorp. It is also no longer an independent company after the merger with the shell company, named X Corpfueling speculation about Elon Musk’s plans for the social media platform.