eToroX launches crypto exchange

eToroX adds gold and silver stablecoins to its offering

eToro CEO Yoni Assia announced yesterday at Paris Blockchain Week the launch of eToroX’s crypto exchange and a range of financial instruments, including eight fiat-stablecoins.

The exchange is managed by eToroX (eToro’s blockchain group) – one of the first companies that received regulatory approval back in December 2018 as a DLT provider by the Gibraltar Financial Services Commission.

eToro has also officially launched its platform and cryptoasset wallet in the United States (32 states for now) last month.

Yoni Assia eToro

Yoni Assia

Yoni Assia, Co-founder and CEO of eToro, commented on the news:

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 launch the exchange will have a range of instruments including:

  • 8 fiat-stablecoins (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), eToro Canadian Dollar (CADX)
  • 6 cryptos (Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Dash (DASH), BitcoinCash (BCH) and Litecoin (LTC)
  • 37 pairs including BTC-USD, XRP-GBP, etc.

eToro’s blockchain journey began in 2012 with the work with Colored Coins.

Doron Rosenblum, Managing Director of eToroX, said:

We are proud to be one of the first companies in the world to obtain a license for cryptoassets, and one of only a handful of regulated exchanges in the crypto space.

In the coming weeks and months we will add more cryptoassets, stablecoins and tokens to the exchange and will work with other exchanges to encourage them to list our growing range of stablecoins.

Yoni Assia concluded:

We believe that we will see the greatest transfer of wealth ever as financial services move onto the blockchain. 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. 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.

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