Lule Demmissie, CEO of eToro, explains that the collaboration with Twitter forms a close connection between social networks and social trading, benefiting both platforms.
eToro, a financial service provider, and Twitter have joined forces in a new partnership. This collaboration enables users on the social media platform to trade cryptocurrencies and stocks directly.
This development comes after a statement by former Twitter CEO Elon Musk, expressing his aspiration to transform Twitter into the largest financial institution globally.
According to Demmissie, it was logical for a major social network platform to collaborate with a social trading platform. Now, users have the option to “practice, engage, or trade” when they access financial news and updates about securities, ETFs, or other assets.
“The symbiosis is like a back-and-forth process of conversation, learning, practicing, and investing.”
Twitter’s “cashtags,” which provide users with real-time trading data, have already received over 500 million search hits on the platform.
The CEO of eToro explained that the company takes a comprehensive approach to the crypto ecosystem, without showing preference for any specific type of asset. She highlighted the significance of diversification, both at the individual instrument level and across different asset classes.
Demmissie further emphasized that digital assets have the potential to be life-changing if we embrace them and integrate them into our daily lives.
Demmissie explained that digital assets offer a fascinating aspect where you not only benefit from them but also contribute to their growth. This concept brings a transformative perspective to justice and capital formation, as you reap the rewards from the same system that you actively participate in.
However, she also emphasized the importance of implementing improved self-regulation practices as digital assets become more widely accessible. Drawing from the lessons of the past two years, it is crucial not to misinterpret or misunderstand those lessons.
Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.