• Twitter has partnered with eToro to allow users access stocks, cryptocurrencies, and other financial assets.
• The new feature will be rolled out later today and will advance Twitter’s current cashtag feature.
• Elon Musk is working towards creating an app similar to WeChat where people can do everything and make it the biggest financial institution in the world.
Twitter partners with eToro
Twitter has partnered with eToro to allow its users access stocks, cryptocurrencies, and other financial assets. According to the report, the new feature will be rolled out later today and will advance Twitter’s current cashtag feature.
Elon Musk’s Vision for an „Everything App“
Since Elon Musk’s acquisition of Twitter, there have been increased speculations that he would turn the social media site into a financial application. Elon Musk took another step in his vision to make Twitter an everything app by merging it into X Corp, bringing an end to Twitter Inc. In a Morgan Stanley conference last month, Musk stated that the goal is for the app to “become the biggest financial institution in the world.” It will be an app where users can transfer funds and earn interest on their money, he added.
WeChat Comparison
Musk’s obsession with WeChat is understandable given that most social media platforms depend heavily on ad revenue — something that an everything app like WeChat has been able to avoid. With businesses reducing their ad spending on Twitter recently, internal valuations have dropped significantly below what Musk paid for it two years ago. However, he believes that once this „everything app“ comes into fruition it could be valued at more than $250 billion dollars.
Confirmation from eToro’s CEO
eToro’s CEO and founder Yoni Assia confirmed the partnership on Twitter saying: “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.“
Conclusion
Twitter has partnered with eToro in order for its users gain access stocks, cryptocurrencies, and other financial assets through its platform today . This development is part of Elon Musk’s larger plan of making a comprehensive „everything“ application similar China’s WeChat so that people can transfer funds and earn interest on their money all within one place .
