In a move that highlights its ambitions to become a super app, Twitter has announced a partnership with eToro, a social trading company, to allow its users to access a wide range of financial assets, including stocks and cryptocurrencies. The new feature, which will be available on the Twitter app, will enable users to view market charts and trade a variety of financial instruments directly through eToro. The partnership with eToro will expand the cashtags feature of Twitter to cover far more instruments and asset classes than is currently possible. This new service is set to be rolled out on Thursday.
Yoni Assia, the CEO of eToro, said that the partnership would enable the company to reach new audiences and connect the brands of Twitter and eToro better. He added that as eToro had grown immensely over the past three years, it had seen more and more of its users interacting on Twitter and educating themselves about the markets. Assia believes that Twitter offers high-quality content and real-time financial analysis of companies and world events that are perfect for eToro’s target audience.
The partnership with eToro is a rare business deal for Twitter since Elon Musk took over as CEO and bought the platform for $44 billion last year. The founder of eToro said 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. However, Assia did not have any contact with Musk directly.
The partnership with eToro comes after Musk has made it his mission to turn Twitter into a “super app.” The idea behind super apps is to offer users a range of services, such as instant messaging, banking, and travel, in one app. The concept has been very popular in East Asia, and Musk wants to bring it to the rest of the world. Earlier this week, Musk changed the corporate name of Twitter to X Corp after merging with a shell company with that name. This move highlighted his ambition to turn the firm into a super app.
In conclusion, Twitter’s partnership with eToro is set to be a game-changer for users who want to access a wide range of financial assets. The move is part of Twitter’s strategy to become a super app, offering a range of services to users in one place. With the new partnership, users will be able to view market charts and trade a variety of financial instruments directly through eToro. This is an exciting development that promises to bring the benefits of social trading to a wider audience.
