Since Elon Musk took over Twitter, his goal has been to make Twitter a financial hub. This is a no-brainer why the popular social media app Twitter is looking into getting into crypto and stock trading. The company plans to partner with eToro to enable the feature’s rollout; this feature will allow platform users to trade cryptocurrencies and stocks.
According to a report done by CNBC, Elon Musk plans to get into financial markets and enable users to browse market charts for financial instruments and trade using eToro. The partnership will expand on Twitter’s cashtags, a feature that gives users real-time market charts from Tradingview.
EToro believes Twitter is impactful when it comes to retail investment, and a big community goes to Twitter to access financial news and get knowledge. Cashtags is causing a lot of ripples in the market.
Twitter will have an eToro tab, redirecting users to the trading platform. Partnership with eToro will be one of the biggest partnerships that Elon Musk has done since he took over as the CEO of Twitter last year. eToro CEO Yoni Assia believes it’s the perfect match as it will help bring users into the platform. According to him, financial Twitter has become a big trend and will be relevant in retail trading in 2021. He believes that Cashtags is growing into million searches.
The move of Elon Musk’s partnering with eToro to offer crypto trading does not come as a surprise. Earlier, he had hinted at making Twitter a super app to build an ecosystem that offers different services in one place. The super app is a familiar idea as it’s popular in China, whereby apps such as WeChat offer several online services in one place.
Elon Musk has been a firm believer in crypto. He is the face behind Dogecoin. His move to change the Twitter badge to Doge caused a lot of ripples in the community. There is a lot of crypto involvement expected with Twitter.