Global investment platform eToro has today announced plans to expand its cryptocurrency capabilities and subject to regulatory approvals will launch an exchange and a digital wallet. eToro will also bring its cryptocurrency offering to the United States, launching the platform to U.S. customers later this year under the leadership of the newly appointed U.S. Managing Director Guy Hirsch.
Yoni Assia, Co-founder and CEO of eToro, said: “We believe that in the future all assets will become digitised. This will help to open the markets to everyone and enable them to invest in the assets they want in a simple and transparent way. Crypto is the first step on this journey and we are excited to share our plans to launch an exchange and wallet.”
The announcements made today at Consensus 2018 in New York, follow the news in March that eToro had completed its Series E funding round, raising $100m USD to accelerate its global expansion and the development of blockchain technology to support the digitisation of assets. The platform enables people to invest in the assets they want to own from cryptocurrencies though to traditional assets such as commodities.
Yoni Assia, commented: “An exchange and wallet are important additions to our crypto offering and we know that both have been eagerly anticipated by our customers.”
eToro currently offers ten cryptocurrencies (Bitcoin, Ethereum, Bitcoin Cash, XRP, Litecoin, Ethereum Classic, Dash, Stellar, NEO and EOS) with plans to add more coins over the coming months. eToro’s cryptocurrency to cryptocurrency exchange will launch later this year enabling customers to trade coins.
The wallet will be launched as a phased rollout with select customers participating in beta testing to ensure that eToro provides an app which best meets its customers’ needs. The wallet app will be available to download on the App Store and Play Store and will work across multiple platforms and in multiple languages. It will enable users to hold multiple cryptocurrencies and…