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- Twitter has partnered up with eToro, a brokerage firm, to provide users with more financial information.
- They can trade if they wish, and also access eToro's website through the social-media app.
- This collaboration is an important step towards Musk's plan to create an "everything" app.
Twitter and eToro, a brokerage firm, will enable users of the social media app to trade stocks and other assets including crypto.
The collaboration, which offers a service that goes beyond social media functions marks a step towards turning Twitter into an "everything" app. CEO Elon Musk stated that he intends to make this happen since he took over the company last January for $44 billion.
While Twitter users can already search for financial information through "Cashtags", since 2022, by entering a dollar sign or ticker symbol, this partnership will increase the number of financial assets that can also be viewed.
Twitter will take users to eToro's website, where they can trade stocks and cryptocurrencies, as well as index funds. CNBC was informed by eToro that the new feature will start appearing in the app starting Thursday.
Twitter's new trading function is now available after Musk merged Twitter under X Corp and filed for regulatory licences to facilitate in-app payments.
Musk plans to make a mobile app that can be used for a wide range of services. In October, he tweeted: "Buying Twitter is an accelerant towards creating X, The Everything App."
Musk has been talking for months about building X. When a Twitter user asked Musk if he was open to creating his own social network, he answered, "X.com", a domain he purchased over five years earlier.
Musk stated that he had a "very grand vision" of X and that it would be "very useful to the world" at Tesla's annual shareholder meeting.
Musk suggested in May that he might draw inspiration from Tencent's WeChat in China, a Chinese social media giant that's one the most popular super-apps in all of technology.
He said, "If you are in China you kind of live with WeChat." It does everything, sort of Twitter plus PayPal plus a bunch of other things and all in one with a great interface. It's a great app and there's nothing like it outside of China.
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By: fdemott@insider.com (Filip De Mott)
Title: Elon Musk edges closer to his ‘everything app’ dream as Twitter enables trading via eToro
Sourced From: markets.businessinsider.com/news/stocks/elon-musk-everything-app-twitter-trading-via-etoro-crypto-x-2023-4
Published Date: Thu, 13 Apr 2023 19:58:58 +0000
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