The global investment platform eToro has announced the launch of a cryptocurrency exchange platform and a crypto wallet. These services will be offered initially to U.S. investors.
New initiatives
The eToro platform intends to play an active role in the cryptocurrency space. For that reason, the company applied to regulators to launch an exchange platform and a crypto wallet. Authorization has just been granted, and spokespeople shared the news at the Consensus 2018 conference currently taking place in New York.
You may have heard by now that we will be expanding our services to the U.S this year, amongst other updates which were revealed by our CEO @yoniassia at #Consensus2018 2 days ago.
Get all the details here: https://t.co/G3T5IwRHzX
— eToro (@eToro) May 17, 2018
Yoni Assia, eToro’s co-founder and CEO, expressed strong enthusiasm: “We believe that in the future all assets will become digital. This will open markets to everyone and give people the ability to invest in the assets they want in a simple and transparent way. Cryptocurrencies are the first step in that evolution, and we are pleased to announce the launch of an exchange platform and a wallet.”
A major fundraising
To achieve this strategic move, the company has just raised $100 million. The funds are intended to accelerate global expansion and to harness blockchain technology: “An exchange platform and a wallet are important additions to our crypto offering, and we know both are highly anticipated by our customers.”
After raising $100 million in March, @eToro is launching a crypto wallet https://t.co/LA4jl9O1od pic.twitter.com/e9JPI51C7u
— Insider Intelligence (@IntelInsider) May 17, 2018
Today, eToro supports ten cryptocurrencies and plans to add more quickly. The exchange platform is scheduled to launch at the end of 2018 and aims to be extremely user-friendly. The wallet will be rolled out gradually to a set of pre-selected clients for testing, allowing the company to fine-tune features to user needs. The application will be available on both the App Store and the Play Store: “eToro empowers investors with a platform that provides access to the assets they want, shared knowledge, and streamlined trading. We know there is strong demand for cryptocurrencies in the United States, and we are pleased to give American investors the opportunity to learn about and invest in multiple digital currencies.”
This represents a significant step forward for eToro, which is poised to become a major international player in the cryptocurrency sector.