eToro is a trading platform that allows the users to invest in cryptocurrency, ETFs, fiat currencies, indices, commodities, socks and so on. The blockchain division of the multi-asset brokerage company- eToro has recently launched a crypto exchange- ‘EToroX’ that is specially designed for the pro traders.
The company states that this exchange is highly secure and follows all the expected regulations. By far you can find thirty-seven trading pairs that come with the feature of converting six cryptos to fiat currency. The user can convert the crypto into fiat currencies such as Dollar, Euro, and Swiss franc.
The managing director of the company has revealed the future plans of releasing more and more pairs in the near future. As of now, the permissible tradable cryptos on the exchange include- bitcoin (BTC), ethereum (ETH), ripple (XRP), dash (DASH), bitcoin cash (BCH) and litecoin (LTC). When it comes to stablecoins, the company has launched 8 stable coins by far. These stable coins are supported by New Zealand dollar (NZDX), Japanese yen (JPYX), Swiss franc (CHFX), United States dollar (USDEX), euro (EURX), U.K. Pound sterling (GBPX), Australian dollar (AUDX), and Canadian dollar (CADX).
The aim of the exchange is to expose the crypto industry to a larger scale of investors. On this the co-founder and the CEO of the company- Yoni Assia said-
“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.”
According to Assia, there will be a natural meeting of the financial services and blockchain in the coming times, given the technology brings about newer possibilities for asset ownership. He even predicts that sectors such as art and property, in the coming times, stand a chance of getting tokenized.
The company released its platform and the crypto asset wallets in March in the United States. Also, in the same month, the company made an announcement about acquiring smart contracts development company Firmo. This was done with a vision of ploughing and adding more tokenized assets to the platform.
The founder and the CEO of the company- Yoni Assia recently gave a keynote speech at the Paris Blockchain Week Summit. He talked about how with the help of Stablecoins and tokenization of different assets, can the divided between the financial market and the crypto market can be joined. He said-
“[Crypto] is still a drop in the ocean compared to $140 trillion of assets under management [in the capital markets.] That’s a big gap. In the blockchain industry, everything everyone is building will start moving when the transfer of assets starts shifting into the blockchain.” […] Most crypto exchanges only trade crypto assets and core assets…in the future, we believe the entire ecosystem will enable people to trade new kinds of tokenized assets, whether equity, property/real estate, or art, they will be able to trade and invest in a wide variety of assets coming from countries all over the world.”