FinTech news in Elon Musk category

In a tweet announcing the feature, eToro said that users will be able to see the real-time prices for a “much wider range of stocks, crypto, and other assets.”

Elon Musk detailed his vision for Twitter plan to enter the payments market during a live-streamed meeting with Twitter advertisers, hosted on Twitter Spaces on Wednesday. The new Twitter owner suggested that, in the future, users would be able to send money to others on the platform, extract their funds to authenticated bank accounts, and later, perhaps, be offered a high-yield money market account to encourage them to move their cash to Twitter. In today’s meeting, Musk explained how paid verification, which Twitter is rolling out now with its revamped Twitter Blue subscription, as well as support for a creator ecosystem could pave the way for a payments system on its platform. Musk then explained how this payments system could scale saying that, once users gained a cash balance, Twitter could prompt them to move that money on its platform.

Tesla’s decision to buy Bitcoin last year prompted a major bull run for the cryptocurrency, though that surge was famously reversed months later by the company’s announcement that while it did not immediately plan to sell its Bitcoin, it would no longer be accepting Bitcoin as payment for vehicle purchases.