Twitter is teaming up with eToro, the social trading network, to expand the financial information available on the site and make it easier for users to buy stocks and cryptocurrencies. According to CNBC, the existing $Cashtag format, which previously allowed users interested in finance to click on a kind of financial hashtag to see more data about specific stocks, will be expanded to show more data in real time. This data will continue to be provided by TradingView, a market tracking company and partner of eToro.

The updated search will also add an eToro button underneath the real-time price charts, allowing users to go from Twitter to obtaining more information and potential investments. Anyone can view the statistics, but eToro will prompt visitors to create an account before they can part with their money.

Twitter is openly trying to diversify its offerings by offering “additional market intelligence and greater access to investment opportunities”. According to Twitter, there were 498 million tweets related to finance or business in the first quarter of 2023.

Since Elon Musk took over as CEO, 80 per cent of the company’s employees have been laid off in an attempt to cut costs. Soon after, a revamped subscription model was launched promising blue ticks, less advertising and increased visibility of tweets for $8 a month, while developers were forced to start paying for a basic API or lose access to the company’s firehose. This came after more than 500 advertisers suspended their spending on Twitter.

While eToro is not directly integrated into the social media platform, the link could potentially benefit Twitter financially in the form of referral bonuses.