Social trading platform eToro has launched its full cryptocurrency exchange platform, eToroX, and it features six major cryptocurrencies and eight stablecoins. The exchange is aimed at professional traders.
— eToroX (@eTorox) April 16, 2019
The six cryptocurrencies available for trading at launch are Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH), and Dash (DASH). Furthermore, the exchange also has its own token that is pegged to eight fiat currencies, and offering 37 crypto-fiat trading pairs. The platform’s token takes several forms including eToro United States Dollar (USDEX), eToro Japanese Yen (JPYX), and eToro Euro (EURX).
The team has said that it will list more tokens, both regular cryptocurrencies and stablecoins, in the weeks to follow.
eToro CEO and co-founder, Yoni Assia, spoke of the potential of tokenization:
Just as eToro has opened up traditional markets for investors, we want to do the same in the tokenized world. […] Blockchain will eventually ‘eat’ traditional financial services through tokenization.
EToro is Betting Big on Crypto
As evinced by Assia’s own words, eToro sees crypto bringing in a great revolution that would change the way we transfer value.
To that end, eToro has undertaken several efforts to push for adoption, including launching its own wallet service and trading platform last month. The new exchange launched by eToro is a professional version of the trading platform offered earlier. These efforts are justified – eToro released a survey, the results of which harmonized with other such surveys, that showed that over 70% of millennials would invest in cryptocurrencies.