The blockchain division of the global social trading platform eToro is in the latest cryptocurrency news for launching a cryptocurrency exchange for pro traders. According to an official press release on April 16, eToro is taking a big leap forward in the crypto market.
Named eToroX, the new exchange launched by the eToro blockchain division claims to be a secure and regulated trading venue. Currently, there are 37 trading pairs and pro traders can convert six cryptocurrencies to fiat – including US dollars, Euros and Swiss francs.
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Leading the coming altcoin news section, eToro also decided to allow users to trade Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Dash (DASH), Bitcoin Cash (BCH) and Litecoin (LTC). As the managing director of eToroX named Doron Rosenblum stated, more pairs will be launched in the coming months.
https://twitter.com/eTorox/status/1118130082399379456
More importantly, the eToro blockchain division eToroX has launched eight stablecoins that are backed by the New Zealand dollar (NZDX), Japanese yen (JPYX), Swiss franc (CHFX), United States dollar (USDEX), euro (EURX), UK pound sterling (GBPX), Australian dollar (AUDX), and Canadian dollar (CADX). All of them will be issued and controlled by eToroX.
The CEO of eToro, Yoni Assia, also said that the platform is ready to bring the crypto world to a larger pool of investors, stating:
“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.”
The eToro blockchain division will be led by professionals. According to Assia, the financial services will be transferred to blockchain since the tech brings a new paradigm for asset ownership. He believes that right now, traditional asset classes need to be explored and act as a property that needs to be tokenized.
From an altcoin news perspective, it is also important to mention that in March this year, eToro officially launched the platform and crypto asset wallet – when it also announced that it has acquired the smart contracts development company Firmo so that it can explore and add more tokenized assets.
A lot of best cryptocurrency news sites have reported the new eToro blockchain division, noting that it is definitely something that the market needed right now.
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