eToro brings financial education to Elon Musk’s X

“We believe that there is power in shared knowledge. It’s why we created a collaborative, social investment platform and it’s why we prioritise financial education through our eToro Academy.”

eToro has partnered with X, formerly known as Twitter, to bring accurate and accessible investment content to the platform, with the program rolling out across the UK, Germany, France, Italy, Spain, the UAE, and the United States.

This way, the social trading platform will publish a series of financial education content on X, through livestream events, video on demand, and audio Spaces.

Analysts and thought leaders linked from the investing community will share insights and analysis, discuss trending topics and breaking news, as well as to explain investment fundamentals live on X.

“An increasing number of people turn to social media for financial content”

In 2023, over 1.4 billion posts on X referenced trading or investing topics, a year-on-year growth of 54%. The US, while sizable with over 342 million posts, still represents under a quarter (24%) of the global conversation in 2023.

Linda Yaccarino, CEO of X, said: “Bringing eToro Academy to X is testament to the strength of the partnership we have built together and the continued growth of the financial investment conversation on X. The continued success of our collaboration will bring more high quality video content to the service, building on our innovation around cashtags and new features.”

Yoni Assia, Co-founder and CEO of eToro, added: “We believe that there is power in shared knowledge. It’s why we created a collaborative, social investment platform and it’s why we prioritise financial education through our eToro Academy. Having been long term collaborators with X, we are delighted to extend our partnership to provide more opportunities for financial learning and the sharing of investment insights on X. We know that an increasing number of people turn to social media for accessible, relevant financial content. It provides a forum for many who were excluded by more traditional channels. Partnering with X will enable us to deliver the very best in financial education to a global audience. ”

eToro achieves SOC 2 certification amid IPO plans

Last month, the Israeli brokerage firm completed Type ll Service Organization Control (SOC 2) certification audits for security and data privacy practices. A vital industry-standard, SOC 2 compliance measures the security, availability, processing integrity, confidentiality, and privacy of customer data across solutions. The certification assures eToro’s ability to not only implement critical security policies but also prove compliance over an extended period.

SOC 2, defined by the American Institute of Certified Public Accountants (AICPA), consists of a series of auditing measures to ensure that service providers securely manage user data and privacy. The regulatory stamp comes as eToro is targeting a valuation of over $3.5 billion as it mulls a listing in the United States, despite the UK being its largest market.

The broker is considering an initial public offering (IPO) in either New York or London, according to Yoni Assia, eToro’s founder and CEO. The plan comes as the platform saw a surge in retail trading, reaching levels not seen since the meme stock craze of 2021.

Assia highlighted the appeal of the US market, noting that retail investors in the UK and Germany show a strong preference for trading US stocks due to the market’s deep liquidity. However, eToro’s European and UK market focus, where nearly 70% of its revenues are generated, might influence a decision to opt for a London listing, providing a boost to a market currently facing challenges in attracting IPOs.



Financefeeds.com