Twitter users will soon be able to buy and sell cryptocurrencies, stocks and other assets directly from the app, thanks to a new partnership with the popular trading platform eToro.
In a blog post to announce the collaboration, eToro says that Twitter users will be able to access a range of trading features from the app, such as viewing market charts, executing orders, managing portfolios and receiving alerts. Users will also be able to engage with other traders and influencers on the platform.
Alongside the announcement this week, Twitter CEO Elon Musk confirmed the partnership. Musk has recently folded Twitter into his X Corp, ending the social media company's run as an independent entity.
eToro is licensed to provide crypto services in various countries and regions, including the U.S., U.K., Europe and Australia, according to its website. The company offers over 20 cryptocurrencies, as well as stocks, commodities, ETFs and indices.
Twitter's partnership with eToro is expected to launch on April 20, a date that is celebrated by some crypto enthusiasts as “Doge Day”. It is unclear how the partnership will affect Twitter's existing revenue streams, such as advertising and subscriptions.
Musk's Plans for Twitter to be an Everything App
Musk is pushing for Twitter to become a payment platform. The company has sought regulatory approval in the United States to become a service such as Apple Pay or PayPal.
Musk has previously spoken about turning Twitter into an “everything app,” a true social media platform. He envisions the platform being an ecommerce service and payment platform. If the company is applying for a license, it will need to pass regulatory tests before being approved.
$47bn takeover of Twitter, the new Chief Twit has been saying the company needs to find ways to balance the books. It doesn't help that Musk's own controversial remarks led to advertisers running a mile, costing the company hundreds of millions of dollars. Even so, Musk has been clear Twitter needs to become – at least partially – a paid platform.
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