The Twitter-eToro stock-trading initiative is a milestone under Musk’s watch as the Tesla CEO seeks to turn Twitter into a super-app.
Twitter Is to partner with Israeli Financial Services Facilitator eToro To bring stock trading to the users of the social media giant. According to reports, starting today, Twitter users can buy and sell stocks and securities through eToro. The Twitter-eToro partnership is a rare deal for the microblogging platform owner Elon Musk Since he assumed control last October. Furthermore, the collaboration between the two companies underscores Musk’s intention to turn Twitter into a “super-app” that provides social media and financial services.
Commenting on the partnership in an interview, Yoni Assia, CEO of eToro, said:
“As we have grown tremendously over the past three years, we have seen more and more of our users interact with Twitter [and] Educate yourself about the markets. There is a lot of high quality content, real-time content on financial analysis of companies and what is happening around the world. We are confident that this partnership will enable us to reach new audiences [and] Better connect the brands of Twitter and eToro.”
Furthermore, Asiya also referenced Twitter’s overarching plans to become a super-app, saying:
“It will be exciting to see how Twitter expands its focus on finance, and we look forward to growing our partnership with this step.”
Other results from the Twitter-eToro stock-trading initiative
eToro partnership expands Twitter Cashtag to cover more asset classes and instruments. Here, users can view market charts on various financial instruments and Trading View real-time trading data on index funds.
At the click of a button, Twitter users can also funnel through to eToro’s site, after which they can trade shares. The Tel Aviv-based social trading and multi-asset investment company uses TradingView as its market data partner.
Established in 2007, eToro has over 32 million registered users across Asia, Europe and the United States. The platform’s CEO described the Twitter collaboration as “the intersection of finance and social media”. Asiya reportedly had no direct contact with Musk during the discussions. However, the CEO of eToro claimed that he worked on the stock market data tool with the same social media team as he did on previous partnerships with the company.
Asiya also jokingly said that the meeting is happening Bernard Arnault And Warren Buffetta meeting with Tesla The CEO was indispensable.
Twitter still under Musk’s management
Musk’s time as the owner of Twitter has been characterized by a number of unpopular choices. These include reducing the company’s staff force and microfinancing many aspects of its services – including its offer of paid verified accounts. However, the outspoken billionaire justified his decisions as strictly business-driven and an effort to cut costs and boost profitability.
Despite Musk’s best efforts to enhance Twitter’s brand, the social media company has lost its share of advertising revenue. Many of these fledgling advertisers fear that changes to Twitter’s operations will have serious implications for its content moderation standards.
On Wednesday, Musk claimed that most advertisers have returned to the platform. However, notable exceptions include Volkswagen and Stellantis (NYSE:STLA), which isn’t planning to restart yet.
Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to strip crypto stories down to the basics so that anyone anywhere can understand without a lot of background knowledge. When he is not delving deep into crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.
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