The Everything App starts today: Twitter launches stock and crypto trading 💸; Plaid is a FinTech volcano that’s starting to erupt 🌋; WhatsApp is using Brazil to test business payments 🇧🇷😳
FinTech is Eating the World, 13 April
Hey Everyone,
Happy Thursday! Today’s issue is a banger 🤯 We’re looking at the Everything App that started today as Twitter launches stock and crypto trading (& why it matters), Plaid, which is a FinTech volcano that’s starting to erupt (Visa was scared for a reason!), and WhatsApp that’s using Brazil to test business payments (this is a big win for Meta!). Let’s jump straight into the cool stuff 🌶
The Everything App starts today: Twitter launches stock and crypto trading 💸
The launch 🚀 Elon Musk moves fast! Twitter will launch stock and digital asset trading in partnership with FinTech unicorn eToro 😳
More on this 👉 Starting today you will be able to view market charts and buy/sell stocks, cryptocurrencies, and other assets.
Social investing platform eToro will be offering trading services of crypto and other assets directly to Twitter users via an arrangement with the social media giant.
The feature will provide Twitter users searching for "$Cashtags" such as $TSLA or $BTC with real-time prices for cryptocurrencies, stocks, and other assets, and direct them to the eToro platform to invest in them.
ICYMI: The beginnings of the most powerful FinTech company in the world 😳
✈️ THE TAKEAWAY
What it means & what’s next? 🤔 This is the first notable deal for the social media giant since Musk took over as CEO and marks Twitter's first real expansion into Finance. Looking at the big picture, this should serve as a good pilot to test how important Twitter is to the retail investing community beyond just being a public town hall. If it goes well, I'm pretty sure Elon will acquire eToro. Especially given that their last valuation of $3.5 billion is very reasonable (we must remember that a few months ago eToro raised $250M at a $3.5B valuation, a huge drop from the failed SPAC deal that valued them at around $10B). And that would mark the birth of X, the Everything App.
P.S. many asked why eToro and not say Robinhood HOOD 0.00%↑? Here’s why:
Bonus: Robinhood wants to be with you until your Last Dance🕺 [deep dive + 2 more reads]
The future of investing is social? Shares thinks so 💸 [Twitter + eToro will basically test this hypothesis]