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eToro launches crypto exchange!   eToro’s retail platform will allow users to trade in multiple currency pairs.  Yoni Assia, eToro’s chief executive officer, had this to say :

“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.”

The Gibraltar-based exchange will allow users to access eight different stablecoins, all of which were created by eToro.   2 of these stablecoins include the Swiss Franc and the US Dollar.  

Users will be able to buy cryptocurrency including Ripple, Ethereum, Dash, and of course, Bitcoin.  eToro plans on having more cruptocurrencies available and supported by the platform in the very near future.  

The managing director at eToro, Doron Rosenblum has said:

“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.”

Dudu Ring, one of the co-founders of eToro, helped launch an Israeli based cryptocurrency, Colu, which is used as a payment processing system in the nation.   Assia and Ring both worked together on technology used to track assets on the Blockchain, known as ColourCoins. 

Assia went on to say:

“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. Crypto assets 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.”

What do you think?   Do you plan on using eToro’s platform?  Let us know what you think on our Facebook page! 

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