​​Twitter Partners With eToro to Bring Crypto Trading to App: Report

Twitter’s “cashtag” feature will be upgraded to cover more financial instruments, and redirect users to eToro’s trading platform.

Twitter users could have access to trading crypto, stocks and other assets as early as this week. 

According to a report from CNBC, Twitter has partnered with investment company eToro to introduce a new feature on the application that will allow users to view financial data and trade investment products listed by eToro.

These products include a range of stocks, index funds and cryptocurrencies. The firm told CNBC that the partnership will expand Twitter’s existing “cashtags” feature, which allows users to view real-time trading data on TradingView, to include other assets. 

Users will now be presented with a “view on eToro” tab which will automatically redirect them to eToro’s trading platform.

By typing the “$” symbol before a stock or crypto ticker, users can view price charts for a limited range of financial assets. Currently, the cashtags feature lists pricing data for Bitcoin, but eToro plans to “hugely” expand the list to include more assets. 

Since its launch in December 2022, the cashtags feature has recorded more than 420 million searches, with Bitcoin and Tesla being some of the most searched terms.

In October, weeks before acquiring the social media platform, Elon Musk tweeted “Buying Twitter is an accelerant to creating X, the everything app.” A month later, Musk said he planned to execute the X product plan with the aim to make it “the most valuable FinServ in the world.”

Earlier this week, he followed through with that plan, merging Twitter with a shell entity called X Corp, court documents revealed. 

In January, the Financial Times reported that Musk was aiming to bring $1.3 billion in payment revenues from Twitter by 2028. He reportedly wants the system to be primarily based on fiat, but also built to include functionality that would support the addition of crypto sometime later.