With the belief that all assets will be digitized in the future, FX broker eToro has announced it will launch a cryptocurrency offering in the United States.
The launch will initially enable U.S.-based users to invest in 10 cryptocurrencies, with more to be added throughout 2018. Users will have access to a community feed and tools, letting them engage in conversations about cryptocurrencies and follow the investment strategies of other U.S. users.
Since launching in 2007, eToro has established a market presence of more than 10 million registered users across 140 countries, including the United Kingdom, Australia, Germany, Switzerland, and France. In 2009, the company launched a multi-asset web-based investment platform, and has since amassed more than $162 million USD in capital funding and enabled its services on mobile devices.
Yoni Assia, CEO and Co-founder of eToro, said:
Consumers all over the world should have access to the tools they need to participate in cryptocurrency markets, regardless of their expertise. We’re excited to make our platform available to U.S. users, who have shown a strong enthusiasm for participating in these growing markets. Within the platform, our U.S. users will find rich knowledge and insights into how to effectively trade and invest in cryptocurrencies.
eToro will continue to focus on simplicity and user-friendliness so that more diverse groups will feel welcomed into the global crypto community. U.S. crypto holders have a strong appetite for diversified portfolios and we’re committed to offering the best tools and assets to help them manage their investments all in one place,” added Assia.
Starting May 15, 2018, U.S. users can visit eToro.com to join the waiting list for the platform. Ahead of the platform going live, users will be able to experience the interface and perform mock cryptocurrency investments via a virtual portfolio.
The 10 cryptocurrencies that will be initially available are:
- Bitcoin Cash,
- Ethereum Classic,
- NEO, and
eToro intends to integrate several more cryptocurrencies throughout 2018.
Guy Hirsch, USA Managing Director, eToro, commented:
We are quickly moving toward a tokenized world, and digital investment platforms need to provide access to the assets investors want, allow the sharing of knowledge, and make transactions easy. eToro is committed to helping our users become better educated about both the risks and rewards that cryptocurrencies present, thereby enabling them trade and invest responsibly and successfully.
The platform will offer U.S. investors three ways to access the crypto markets: by manually investing in a coin; by automatically copying the trades of other traders on the platform to benefit from their knowledge and investment expertise; or by investing in a Crypto CopyFund which provides a diversified portfolio of major crypto assets.