Elon Musk's Twitter To Allow Users To Trade Stocks & Cryptocurrency From This Week

After merging Twitter¡¯s parent firm Twitter Inc last week, Dogecoin supporter Elon Musk has taken another step to to turn Twitter into a ¡°super app¡± that offers payments ,banking and much more.

Twitter To Allow Stocks & Crypto From Thursday

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Also Read: Dogecoin Price Jumps After Elon Musk Introduces Pet Dog As New Twitter CEO

'Dogefather' Elon Musk's Twitter will let its users access stocks, cryptocurrencies and other financial assets through a partnership with eToro, a social trading company.

Starting Thursday, a new feature will be rolled out on the Twitter app. It will allow users to view market charts on an expanded range of financial instruments and buy and sell stocks and other assets from eToro, the company said, as per CNBC.

Currently, it¡¯s already possible to view real-time trading data from TradingView on index funds like the S&P 500 and shares of some companies such as Tesla. That can be done using Twitter¡¯s ¡°cashtags¡± feature ¡ª you search for a ticker symbol and insert dollar sign in front of it, after which the app will show you price information from TradingView using an API (application programming interface).

Through this partnership, Twitter cashtags will be expanded to cover far more instruments and asset classes, an eToro spokesperson reportedly said.

You¡¯ll also be able to click a button that says ¡°view on eToro,¡± which takes you through to eToro¡¯s site, and then buy and sell assets on its platform. EToro uses TradingView as its market data partner. ¡°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,¡± Yoni Assia, eToro¡¯s CEO, said, as per the report.

¡°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.¡±

More About The Partner

Founded in Israel in 2007, eToro is an online brokerage and a multi-asset investment company that focuses on providing financial services that let users buy and sell stocks, cryptocurrencies and index funds.

Among its prominent features is a function that allows people to mimic the trading strategies of other users. The company reportedly has more than 32 million registered users across Europe, Asia and the United States, Assia said, adding that he worked with the same team at Twitter on the stock market data tool that he had worked with on previous partnerships with the company.

Also Read: Timeline Of Elon Musk-Twitter's $44 Billion Deal

Twitter's Rollercoaster Ride Under CEO Musk

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Under Musk¡¯s tenure as CEO, Twitter has done mass layoffs, taking its headcount from about 7500 to just 1,500 in a bid to reduce costs and reach profitability.

His actions have spooked advertisers, with many brands leaving Twitter in light of concerns that its content moderation standards would slip. Last week Musk had said that ¡°almost all¡± advertisers had returned to the app.

Click here to know what all has went wrong at Twitter in past few months under Musk, and the promises he made but remain unfulfilled till date.

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