Twitter partners with eToro to offer crypto trading

Pushing Twitter another step closer to becoming the ultimate “super app”, Elon Musk is pairing up with eToro to let users trade on the social media site.

Users will be able to access stocks, cryptocurrencies and other financial assets through the social trading platform, building on the current capabilities to view real-time trading data through Twitter’s ‘cashtags’ feature.

The feature currently allows users to search for a ticker symbol with a dollar sign in front of it and the app will then show price information from TradingView using an API.

The partnership with eToro is set to expand this so users can view market charts on a much wider range of financial instruments, as first reported by CNBC.

“As we’ve grown over the past three years immensely, we’ve seen more and more of our users interact on Twitter [and] educate themselves about the markets,” eToro CEO Yoni Assia told CNBC.

“There is very high quality content, real-time content on financial analysis of companies and what’s happening around the world. We believe this partnership will enable us to reach those new audiences [and] connect better the brands of Twitter and eToro.”

The partnership marks the first big move into the financial space for Twitter.

Back in November, just a few weeks after purchasing Twitter, Musk told employees that the platform is going to head in the direction of payments.

Likening payments to an exchange of information just like sending a direct message, he said he wants Twitter to eventually offer debit cards, loans and cheques.

The pricing data for cashtags was introduced last December, and since the start of the year there have been more than 420 million searches for them, averaging around 4 million per day.

Before acquiring Twitter, Musk tweeted that buying the company was an accelerant to creating X, “the everything app” and this seems like the first major step into making financial services a part of that vision.