StockTwits, a real-time financial communication, and media network launched cryptocurrency trading Thursday.
What Happened: StockTwits is looking to reimagine financial media, tools and services for the next generation of investors that demand access to emerging markets and new asset classes.
This comes amid increased awareness around financial sustainability post-COVID-19; society is more interested in saving and investing, rather than spending and borrowing.
According to the firm’s release on the development, in 2021 alone, crypto adoption rose 880%.
No longer are investors interested in being informed by big-name institutions, most of which are behind the curve when it comes to following trends. Rather, they look to their peer group on platforms like StockTwits when it comes to monetary issues.
Why It Matters: StockTwits boasts 6 million registered, users with over 5 million of them using the platform monthly.
Providing this large community of users crypto trading access is StockTwits' play on trends that suggest investors trust themselves and their embedded networks to make decisions.
Perspectives: “Stocktwits has built a strong community since 2008 through our data tools and social features. The community and data have served as a strong on-ramp into the platform, but the addition of execution on the platform is a key product expansion that will help us to better serve our users,” said Rishi Khanna, CEO of Stocktwits.
