EToro Launches New Regulated Crypto Exchange

Social investing platform eToro has come up with a new regulated digital asset exchange. eToroX, the blockchain division of global investment company eToro, has announced the launch of its crypto exchange – a secure and regulated trading venue offering a range of crypto assets as well as a suite of stablecoins.

This exchange will support eight new fiat-stablecoins and will begin trading six cryptocurrencies at launch: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Dash (DASH), BitcoinCash (BCH) and Litecoin (LTC), that will allow for trades with 37 crypto-fiat pairs.

The exchange will have a range of instruments that include eight stablecoins, branded with the exchange’s name: eToro New Zealand Dollar (NZDX), eToro Japanese Yen (JPYX), eToro Swiss Franc (CHFX), eToro United States Dollar (USDEX), eToro Euro (EURX), eToro Pound Sterling (GBPX), eToro Australian Dollar (AUDX) and eToro Canadian Dollar (CADX).

The exchange, modulated by the Gibraltar Financial Services Commission, is endeavouring to add more stablecoins, cryptoassets and tokens in the upcoming weeks.

Commenting on the news, Yoni Assia, co-founder and CEO of eToro, expressed his views on how he believes that blockchain-based assets will shape the near future:

“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. Blockchain will eventually ‘eat’ traditional financial services through tokenization.”

At the launch of the exchange, today at Paris Blockchain week, Assia further explained the bright future, he and the company have visualized for the next decade of crypto:

The launch of the exchange is a natural next step in eToro’s blockchain journey which began in 2012, with the work with Colored Coins. It follows that of eToro’s trading platform and wallet service last month, which serves customers from 32 U.S. states and allows for trades in 13 cryptoassets.

Rishma Banerjee

Rishma is currently pursuing a bachelor’s degree in International Relations and has a special place in her life for sifting through all sorts of random trivia, thank you very much.