eToro cryptocurrency exchange was finally launched. eToroX, Regulated Crypto Exchange, the blockchain division of the global investment company, will offer a secure and regulated trading venue where users can trade a range of cryptoassets and stablecoins.
The cryptocurrency exchange will feature a range of instruments, including 8 fiat-stablecoins: eToro New Zealand Dollar (NZDX), eToro Japanese Yen (JPYX), eToro Swiss Franc (CHFX), eToro United States Dollar (USDEX), eToro Euro (EURX), eToro Pound Sterling (GBPX, eToro Australian Dollar (AUDX), eToro Canadian Dollar (CADX). The crypto offering features Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Dash (DASH), BitcoinCash (BCH) and Litecoin (LTC), and 37 pairs such as BTC-USD and XRP-GBP.
Yoni Assia, Co-founder and CEO of eToro, commented:
“Just as eToro has opened up traditional markets for investors, we want to do the same in the tokenized world. We want to bring crypto and tokenized assets to a wider audience, allowing them to trade with confidence. This is the future of finance. Blockchain will eventually ‘eat’ traditional financial services through tokenization.
“We believe that we will see the greatest transfer of wealth ever as financial services move onto the blockchain. The blockchain brings transparency and a new paradigm for asset ownership. In time, we will see the tokenization of all traditional asset classes, as well as the emergence of new asset classes such as tokenized art, property or even IP. Cryptoassets are just the first step on this journey and we are excited to explore the opportunities offered by tokenization with the launch of our exchange”, Assia added.
Doron Rosenblum, Managing Director of eToroX, said:
“We are proud to be one of the first companies in the world to obtain a license for cryptoassets, and one of only a handful of regulated exchanges in the crypto space. In the coming weeks and months we will add more cryptoassets, stablecoins and tokens to the exchange and will work with other exchanges to encourage them to list our growing range of stablecoins.”
eToro’s blockchain journey, which began with Colored Coins in 2012, has reached eToroX as a natural next step. The broker was one of the first regulated financial companies to offer crypto, offering bitcoin since 2014 and currently with 15 cryptoassets on its belt.
In March 2019, eToro expanded its crypto wallet and trading services in 32 states in the US. In the same month, the leading multi-asset investment platform acquired blockchain-powered startup Firmo to act as an internal innovation unit tasked with bringing to life the goal of tokenizing all assets on eToro.