Another new exchange is on the market, and it will help boost the adoption of digital currencies.
eToro just launched its very own crypto exchange via its blockchain division, eToroX.
eToroX crypto exchange
The most important cryptos by trading volume will be available on the platform, and these include Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), XRP, Dash, Bitcoin Cash (BCH).
Besides these six digital assets, eToroX also offers eight fiat-stablecoins and 37 trading pairs including BTC-USD.
Users will have the ability to convert BTC, Ripple’s XRP, ETH, LTC, DASH and BCH to fiat currencies such as Euro, the US dollar, the Swiss franc and more.
The exchange also provides a regulated crypto wallet that can be accessed via mobile devices.
Doron Rosenblum, managing director of eToroX said the following:
“In the coming weeks and months, we will add more crypto assets, stablecoins, and tokens to the exchange and will work with other exchanges to encourage them to list our growing range of stablecoins.”
eToroX plans to offer more digital assets in the future.
"We're launching now 8 new stable coins, which are the most traded currencies in the world."
"We will continuously innovate @eTorox to add more features and more assets."
— Mati Greenspan (tweets ≠ financial advice) (@MatiGreenspan) April 16, 2019
Exploring the opportunities of tokenization with the new exchange
The Daily Hodl reports that back in March, eToro revealed the acquisition of smart contract startup Firmo in order to boost tokenized assets.
The startup is based in Copenhagen, and it uses the underlying tech that’s designed to allow eToro to securely deploy financial contracts, and it also supports various blockchain platforms including NEO, ETH, and EOS.
“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,” eToro CEO and founder Yoni Assia said.
Assia continued and said that “Cryptoassets 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.”