Twitter will let its users access stocks, cryptocurrencies and other financial assets through a partnership with eToro, the social trading and investing network.
Twitter 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 told CNBC.
The trading data will be available through Twitter’s Cashtags feature, which allows users to interact with content around an asset by inserting a dollar sign in front of the ticker.
Twitter users were earlier able to view real-time trading data from markets-charting platform TradingView, but only on some assets such as the S&P 500 index and shares of certain companies. Now, they will be able click through to eToro’s platform to see information about the asset, with an added option to invest.
Yoni Assia, CEO and Co-Founder of eToro, said: “Financial content on social media has provided education to many who have felt excluded by more traditional channels. Twitter has become a crucial part of the retail investing community – it’s where millions of ordinary investors go every day to access financial news, share knowledge and converse. As the social investing network, eToro was built on these very principles – community, knowledge-sharing and better access to financial markets. There is power in shared knowledge and by transforming investing into a group endeavour, we can yield better results and become more successful, together.”
Chris Riedy, Vice President, Global Sales & Marketing at Twitter, said: “Twitter is what’s happening and what people are talking about right now. We believe real change starts with conversation 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.”
Founded in Israel in 2007, eToro is an online brokerage that lets users buy and sell stocks, cryptocurrencies and index funds. Among its most popular features is a function that allows people to mimic the trading strategies of other users. The company has more than 32 million registered users across Europe, Asia and the United States, Assia said.