eToro, a
leading social trading and investing network, announced its partnership with Twitter to integrate real-time asset prices into the social media platform’s
$Cashtags feature.
The new
feature means Twitter users will get direct access to trading from the social
platform owned by Elon Musk, whose recent actions suggest he wants to move the
app closer to the financial industry. The latest
move will see eToro join the growing trend of the popularity of finance on
Twitter, called ‘fintwit’, becoming a literately social trading app.
With this
collaboration, Twitter users can quickly access up-to-date prices for stocks, ETFs,
commodities and cryptos by simply searching using a $Cashtag symbol. This partnership
aims to provide a seamless experience for Twitter users, enabling them to click
through to the eToro platform for more comprehensive information on the asset
and the option to invest.
Yoni Assia,
CEO and Co-Founder of eToro, highlighted the importance of social media in
democratizing financial education.
“Twitter
has become a crucial part of the retail investing community – it’s where
millions of ordinary investors go every day to access financial news, share
knowledge and converse,” eToro’s CEO commented.
Assia
emphasized that eToro was founded on the principles of community,
knowledge-sharing, and increased access to financial markets. The partnership
with Twitter aims to harness the power of shared knowledge to yield better
results and facilitate group investing.
JUST IN: Twitter partners with eToro to enable users to trade #crypto and stocks, CNBC reports.
— Crypto Trends (@CryptoTrends) April 13, 2023
Since introducing pricing data for $Cashtags in December 2022, the feature has
experienced widespread adoption. With over 420 million searches for $Cashtags
since the beginning of 2023, there are an average of 4.7 million searches daily.
Activity tends to increase around significant earnings announcements, such as
when Apple released its Q4 2022 earnings on 2 February 2023, prompting 8
million $Cashtag searches.
“Twitter is
what’s happening and what people are talking about right now,” Chris Riedy,
Vice President of Global Sales & Marketing at Twitter commented. “We
believe real change starts with conversion and finance and investing is a
growing part of that conversation.”
Some of the
most commonly used $Cashtags include $TSLA (Tesla), $SPY (SPDR S&P 500
ETF), and $BTC (Bitcoin ). This increased usage of $Cashtags is indicative of
the growing trend of financial discourse on Twitter, with a recorded 498
million global tweets about business and finance in the first 90 days of 2023. Notably,
65% of these tweets originated from users aged 18-34.
Riedy
shared his excitement about collaborating with eToro, stating that the alliance
aims to provide users with enhanced market insights and increased investment
opportunities. Furthermore, the company plans to continue supporting the
expansion of the #FinTwitter community.
Elon Musk
Pushes Twitter to Financial’ Super App’
Since Elon
Musk acquired Twitter for $44 billion last year, the social media giant has
been making moves that previously seemed highly improbable at best.
The Tesla
owner and controversial billionaire aim to turn Twitter into a so-called ‘super
app’. Such applications offer users access to various services in one place,
similar to how Revolut or Robinhood function and WeChat in Asia.
Evidence of
this transformation can be seen in Twitter’s official corporate name change to
X Corp, following its merger with a shell company of the same name. During a
Morgan Stanley conference in March, Musk claimed that Twitter would become the
largest financial institution in the world.
eToro, a
leading social trading and investing network, announced its partnership with Twitter to integrate real-time asset prices into the social media platform’s
$Cashtags feature.
The new
feature means Twitter users will get direct access to trading from the social
platform owned by Elon Musk, whose recent actions suggest he wants to move the
app closer to the financial industry. The latest
move will see eToro join the growing trend of the popularity of finance on
Twitter, called ‘fintwit’, becoming a literately social trading app.
With this
collaboration, Twitter users can quickly access up-to-date prices for stocks, ETFs,
commodities and cryptos by simply searching using a $Cashtag symbol. This partnership
aims to provide a seamless experience for Twitter users, enabling them to click
through to the eToro platform for more comprehensive information on the asset
and the option to invest.
Yoni Assia,
CEO and Co-Founder of eToro, highlighted the importance of social media in
democratizing financial education.
“Twitter
has become a crucial part of the retail investing community – it’s where
millions of ordinary investors go every day to access financial news, share
knowledge and converse,” eToro’s CEO commented.
Assia
emphasized that eToro was founded on the principles of community,
knowledge-sharing, and increased access to financial markets. The partnership
with Twitter aims to harness the power of shared knowledge to yield better
results and facilitate group investing.
JUST IN: Twitter partners with eToro to enable users to trade #crypto and stocks, CNBC reports.
— Crypto Trends (@CryptoTrends) April 13, 2023
Since introducing pricing data for $Cashtags in December 2022, the feature has
experienced widespread adoption. With over 420 million searches for $Cashtags
since the beginning of 2023, there are an average of 4.7 million searches daily.
Activity tends to increase around significant earnings announcements, such as
when Apple released its Q4 2022 earnings on 2 February 2023, prompting 8
million $Cashtag searches.
“Twitter is
what’s happening and what people are talking about right now,” Chris Riedy,
Vice President of Global Sales & Marketing at Twitter commented. “We
believe real change starts with conversion and finance and investing is a
growing part of that conversation.”
Some of the
most commonly used $Cashtags include $TSLA (Tesla), $SPY (SPDR S&P 500
ETF), and $BTC (Bitcoin ). This increased usage of $Cashtags is indicative of
the growing trend of financial discourse on Twitter, with a recorded 498
million global tweets about business and finance in the first 90 days of 2023. Notably,
65% of these tweets originated from users aged 18-34.
Riedy
shared his excitement about collaborating with eToro, stating that the alliance
aims to provide users with enhanced market insights and increased investment
opportunities. Furthermore, the company plans to continue supporting the
expansion of the #FinTwitter community.
Elon Musk
Pushes Twitter to Financial’ Super App’
Since Elon
Musk acquired Twitter for $44 billion last year, the social media giant has
been making moves that previously seemed highly improbable at best.
The Tesla
owner and controversial billionaire aim to turn Twitter into a so-called ‘super
app’. Such applications offer users access to various services in one place,
similar to how Revolut or Robinhood function and WeChat in Asia.
Evidence of
this transformation can be seen in Twitter’s official corporate name change to
X Corp, following its merger with a shell company of the same name. During a
Morgan Stanley conference in March, Musk claimed that Twitter would become the
largest financial institution in the world.
