On Tuesday, April 16, the blockchain division of the global social trading platform eToro launched a cryptocurrency exchange for professional traders.
EToroX claims to be a safe and fully regulated shopping center. At the moment, the platform offers 37 trading pairs with the ability to convert six cryptocurrencies into Fiat, such as the dollar, euro and Swiss franc.
Currently, the exchange allows users to trade Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), DASH, BitcoinCash (BCH) and Litecoin (LTC).
According to eToroX managing director Doron Rosenblum, the exchange will launch more pairs in the coming months.
In addition, eToroX issued eight stable coins that are supported by the New Zealand dollar (NZDX), the Japanese yen (JPYX), the Swiss franc (CHFX), the US dollar (USDEX), the euro (EURX), the British pound sterling (GBPX), the Australian dollar ( AUDX) and Canadian Dollar (CADX).
Co-founder and CEO eToro Yoni Assia (Yoni Assia) said that the platform is designed to talk about cryptocurrency to a wider range of investors:
“We want to bring crypto and tokenized assets to a wider audience so that they can confidently trade. This is the future of finance. The blockchain will eventually “eat up” traditional financial services through tokenization. ”
Assiah believes that financial services will eventually be transferred to the blockchain, as technology creates a new paradigm of asset ownership. According to him, traditional asset classes, such as art and property, will also be labeled.
In March, eToro officially launched its platform and a purse of cryptoactive assets in the United States. Later that month, the company announced that it had acquired Firmo’s intellectual contracting company to explore and add additional tokenized assets.
From other news about the stable currency, the Canadian cryptocurrency exchange Coinsquare recently announced the launch of a stable coin supported by the Canadian dollar. Meanwhile, billionaire Tim Draper is reportedly planning to meet with Facebook executives to discuss investing in FB Coin.