Ad

Twitter to offer crypto and stock trading in partnership with eToro

By:
on Apr 13, 2023
Updated: May 12, 2023
Listen
  • Twitter users will be able to trade crypto and other assets.
  • Twitter is partnering with Etoro to offer the trading services.
  • The trading services will be accessible before the end of the week.

Follow Invezz on Telegram, Twitter, and Google News for instant updates >

After months of anticipation, Twitter users will now be able to trade cryptocurrencies and other assets. This is following a new partnership with eToro that will see the multi-asset investment platform giant eToro provide Twitter users with real-time prices for stocks, crypto and other assets.

Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.

Users who wish to invest in any of the assets will be directed to the eToro platform. The new service is named “$Cashtags.”

The Vice President, Global Sales & Marketing at Twitter, Chris Riedy, commenting about the partnership said:

“Twitter is what’s happening and what people are talking about right now. We believe real change starts with conversion and finance and investing is a growing part of that conversation. 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.”

When will the “$Cashtags” service be available?

Copy link to section

According to information provided by CNBC and confirmed by eToro via a tweet, the “$Cashtags” service allowing users to see the prices of assets will be available on Twitter from Thursday, April 13, 2023.

The news comes after Twitter temporarily changed its logo to a doge; something that made Dogecoin (DOGE) price surge considerably.

eToro in a press release said that the social media platform users currently searching using a $Cashtag symbol will see live price charts for a select few financial assets ranging from stocks and ETFs to crypto and commodities but the list will hugely be expanded with time.

The rise of $Cashtags searches on Twitter

Copy link to section

Twitter added pricing data for $Cashtags in December 2022 and the feature has seen widespread adoption with more than 420 million searches for $Cashtags since the start of the year. There are on average 4.7 million $Cashtag searches a day with activity increasing around prominent earnings announcements, e.g. on 2 February 2023, when Apple released its Q4 22 earnings, $cashtag searches hit 8 million. The most commonly used $Cashtag was $TSLA (Tesla), with $SPY (SPDR S&P 500 ETF) and $BTC (Bitcoin) also ranking in the top 5.

The $Cashtags aligns with Elon Musk’s plans to integrate financial services into the platform, as part of his plans to create a “super app.” The platform has already made an application with the authorities to offer the services and it is a matter of wait and see to see if it will be granted permission to go ahead with its intentions.

Elon Musk, who acquired Twitter for about $44 billion, has also indicated that he wishes the social media platform could accommodate crypto as well as fiat currencies in its proposed payments system that is expected to rival PayPal (NASDAQ: PYPL) and Apple Pay.

Ad

Want easy-to-follow crypto, forex & stock trading signals? Make trading simple by copying our team of pro-traders. Consistent results. Sign-up today at Invezz Signals™.

0/10
Learn more
Crypto Crypto business