Twitter users are believed to soon be able to trade cryptocurrencies on the platform.
Twitter, an American social media platform, is reportedly planning to launch a new feature enabling users to trade cryptocurrencies and stocks directly within the platform.
According to the CNBC news report, the alleged feature will be launched in partnership with social trading and multi-asset investment company eToro.
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The collaboration between Twitter and eToro will expand on the social media platform's "cashtags" functionality, which currently allows users to access real-time trading data from TradingView.
With the integration of eToro's services, Twitter users could explore market charts for several financial instruments and buy or sell crypto assets and other financial products.
When asked about the matter, an eToro spokesperson noted:
Twitter has become a really important part of the retail investing community and it’s where a lot of people go to access financial news and acquire knowledge. We think $Cashtags can play a central role in this conversation and they are already gaining a lot of traction.
On top of that, eToro's CEO, Yoni Assia, believes the collaboration is a perfect match and expects it to draw new users to both platforms.
Users can access the new feature by clicking on a "view on eToro" tab, which redirects customers to eToro's trading platform.
This development represents Twitter's first major deal since Elon Musk's appointment as CEO, following his acquisition of the social media giant for $44 billion last year. Since then, Elon Musk and Twitter made the headlines for multiple reasons. However, most recently, Twitter changed its logo to the image associated with the meme coin Dogecoin (DOGE).
As with everything Twitter and crypto-related, the new assumptions positively impacted DOGE price. At the time of writing, Dogecoin (DOGE) retails for $0.0871, recording a 5.42% increase.
