Twitter to allow users trade stocks, crypto

SAN FRANCISCO: Twitter has partnered with Israel-based social trading company eToro, which will allow users to access stocks, cryptocurrencies and other financial assets.

The company introduced a new feature called -- 'Cashtags', which will let users search for a ticker symbol and insert a dollar sign in front of it, after that the app will show them price information from TradingView using an API (application programming interface), reports CNBC.

This new feature is now rolling out on the Twitter app.

In addition, this new feature will allow users to view market charts on an expanded range of financial instruments and buy and sell stocks and other assets from eToro.

"As we've grown over the past three years immensely, we've seen more and more of our users interact on Twitter (and) educate themselves about the markets," Yoni Assia, eToro's CEO, was quoted as 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," he added.

Moreover, the report said that with the eToro partnership, Twitter cashtags will be expanded to cover far more instruments and asset classes.

eToro, which was founded in 2007, is an online brokerage that allows users to buy and sell stocks, cryptocurrencies, and index funds.

One of its most popular features is the ability to mimic the trading strategies of other users, the report mentioned.

According to Assia, the company has more than 32 million registered users across Europe, Asia, and the US.