Home Malta Winds eToroX launches crypto exchange including suite of unique stablecoins

eToroX launches crypto exchange including suite of unique stablecoins


eToroX, the blockchain
division of global investment company eToro, has today announced the launch of
its crypto exchange – a secure and regulated trading venue offering a range of
cryptoassets as well as a suite of stablecoins.

Commenting on the news, Yoni Assia, Co-founder and CEO of eToro,
said: “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.

The launch of the exchange
is a natural next step in eToro’s blockchain journey which began with the work
with Colored Coins in 2012. eToro was one of the first regulated financial
companies to offer crypto, enabling users to trade bitcoin in 2014 and today
has 15 cryptoassets on the eToro platform.

The exchange is managed by
eToroX, a subsidiary of eToro Group. eToroX is one of the first companies to be
certified as a regulated Distributed Ledger Technology (DLT) provider by the
Gibraltar Financial Services Commission (GFSC).

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.”

Tokenization helps open up
markets and encourages diversification by facilitating fractional ownership and
removing geographical boundaries.

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.”

The post eToroX launches crypto exchange including suite of unique stablecoins appeared first on maltawinds.com.

Original article found on Malta Winds


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