EToro Launches Crypto Exchange for Pro Traders, Launches Stablecoins
Social trading platform eToro has launched a cryptocurrency exchange designed for pro traders. This news comes via a press release the company distributed yesterday.
Currently, eToroX, which is a fully regulated trading platform, lists thirty-seven trading pairs, including six fiat currencies like the U.S. Dollar, the Euro, and the Swiss Franc, and cryptos such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Dash (DASH), Bitcoin Cash (BCH), and Litecoin (LTC), Neo (NEO), and Ethereum Classic (ETC). Per eToroX Managing Director Doron Rosenblum, there will soon be more pairs launching on the exchange.
Furthermore, eToroX has also issued eight stablecoins — backed by the U.S. Dollar (USDEX), the Canadian Dollar (CADX), the U.K. Pound Sterling (BGPX), the New Zealand Dollar (NZDX), the Australian Dollar (AUDX), the Swiss Franc (CHFX), the Japanese Yen (JPYX), and the Euro (EURX) — that are controlled by eToroX.
Yonia Assia, co-founder and CEO of eToro, commented on the future of blockchain in finance and said that the platform is ready to bring crypto to the masses:
“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.”
Indeed, Assia believes it is a matter of time before financial services will migrate over to the blockchain, which will allow for more secure and transparent ownership of assets. But Assia’s beliefs in blockchain don’t stop there — he also believes ownership rights to hard assets like art, real estate, and other types of property will eventually be tokenized as well.
Last month, eToro launched its platform and crypto wallets in the United States, and soon after announced it had acquired Firmo, a smart contracts development company, in order to potentially add more tokenized assets to its platform.