Twitter has teamed up with investment platform eToro to show real-time information about stocks and crypto prices. This is an extension of the social network’s Cashtag feature, which provided information on a limited number of stocks and cryptocurrencies via TradingView data.
The social media company first introduced the feature in December, allowing users to search for a ticker or coin symbol such as $TSLA, $APPL, or $ETH to get prices directly in search results.
In a tweet announcing the feature, eToro said users will be able to see real-time prices for a “much wider range of stocks, cryptos and other assets”.
The new partnership with eToro goes beyond just displaying information. It also redirects users to the eToro site where they can trade. If you search for a stock on Twitter, you’ll see a button that says “View on eToro,” which redirects to the site.
Notably, when Cashtags were announced in December, Twitter displayed a “View on Robinhood button.”
It is not clear whether the trading company pays fees to Twitter if a user comes to the platform via Cahstags and completes a transaction. We asked the company for comment and eToro said it cannot comment on this commercial agreement with Twitter.
eToro’s CEO Yoni Assia told CNBC in an interview that the company noticed that many of its users use Twitter to talk about various financial markets. “As we have grown tremendously over the past three years, we have seen more and more of our users interacting on Twitter [and] educate themselves about the markets,” he told the publication.
“There is very high quality content, real-time content about financial analysis of companies and what is happening in the world. We believe that this partnership will enable us to reach those new audiences [and] aligns better with the Twitter and eToro brands.”
After Elon Musk took over Twitter, the company had ambitions to become a major financial player. In November, Tesla’s CEO suggested that the social network is building ground for users to send money to each other. He said the company’s long-term plan was to offer a high-yield money market account.
Speaking at the Morgan Stanley conference in March, Musk said Twitter has the potential to become a financial behemoth.
“Basically, I think it’s possible to become the world’s largest financial institution just by providing people with convenient payment options. We don’t have the time to go into detail here, but if we just keep making the app more and more useful, people will use it more and it will be great,” he said.