Twitter has partnered with social trading provider eToro to trade trading instruments, including crypto assets and stocks, by accessing the $Cashtags feature.
Elon Musk-led social networking service Twitter has signed a partnership with eToro, a social trading broker, to allow users to access real-time prices of cryptocurrencies, stocks, and other assets and be able to trade the instruments. The service can be accessed through the new $Cashtags feature.
Now, Twitter users can view charts for various financial instruments and buy and sell stocks and other assets. This feature can also detect real-time trading data from TradingView for index funds such as SandP 500 and certain company stocks such as Tesla.
The partnership with eToro broadens the scope, allowing Twitter to enable its money tagging feature to display trading data for a complete range of trading instruments, from stocks and ETFs to cryptocurrencies and commodities. It is a rare and significant deal for Twitter, as Elon Musk takes the reins as CEO after acquiring the platform for $44 billion last year.
Additionally, Twitter added price data for $cashtags in December 2022. Since the start of 2023, users have performed over 420 million cache tag searches, with an average of about 4.7 million daily searches.
CEO and co-founder of the Israeli broker, Yoni Assia, commented, "Twitter has become a critical part of the retail investment community. It is a place that millions of retail investors visit every day to access financial news, share knowledge and communicate. As a social investment network, eToro has a community principle, knowledge sharing, and greater access to financial markets. Performance groups help us achieve better results and achieve more success together."