Connect with us

Trade

eToro signals commitment to growth with acquisition of Delta

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

– Second deal of 2019 supports expansion as eToro eyes further acquisitions –

Global multi-asset investment platform eToro has today announced the acquisition of Delta for an undisclosed amount. Delta helps investors make better decisions regarding their crypto investments by providing tools such as portfolio tracking and pricing data. 

Commenting on the news, Yoni Assia, Co-founder and CEO of eToro, said: “We are excited to announce that Delta will become part of the eToro Group. This is our second acquisition this year and reflects our commitment to continued growth and innovation. When we started eToro our goal was to disrupt the world of trading. We wanted to change the way people think about trading and investing, ultimately reducing dependency on traditional financial institutions and make trading and investing more transparent and fun. This mission remains our guiding light and we will continue to evolve both organically and by acquisition in order to bring our customers the very best experience.”

Delta is a crypto portfolio tracker app with over 6,000 cryptoassets available from more than 180 exchanges. It provides investors with a range of tools to track and analyze their crypto portfolios. To date, Delta has been downloaded by over 1.5 million users and has hundreds of thousands of active monthly users. The app is known for its superior quality which is reflected in extremely popular users reviews (4.8 average on iOS and 4.6 on Android) and its award winning user interface (2018 Webby Judges Award Winner for best mobile app UI/UX). 

Nicolas Van Hoorde, CEO of Delta, commented: “This acquisition makes sense for Delta, eToro and most importantly our respective users. There are strong synergies between the two companies and we have many shared values, in particular the focus on community and continuous innovation. Both companies have been successful because we’ve built supportive and engaged communities and have a commitment to build user-first, cutting edge technology.”

eToro was founded in 2007 with the vision of opening up global markets so that everyone can trade and invest in a simple and transparent way. While this core vision remains unchanged, new technology namely blockchain, means that the eToro business has, and will continue to, evolve. In 2018, eToro created eToroX, its blockchain subsidiary. eToroX provides the infrastructure, in the form of a crypto wallet and exchange, that supports eToro’s commitment to facilitating the evolution of tokenized assets. 

Doron Rosenblum, Managing Director of eToroX, the blockchain subsidiary of eToro, added: “I’m thrilled to welcome Delta to the eToro family. They have a fantastic product which we believe will make a great addition to our crypto offering. We will be exploring how we can continue to diversify Delta, and will integrate with eToroX so customers can trade from within the app, and also looking to broaden the scope beyond crypto to reflect the many different asset classes offered by eToro.”

The Delta team under the leadership of Nicolas Van Hoorde will become part of eToroX reporting to Doron Rosenblum. The team will continue to be based in Belgium, working in close collaboration with eToro and eToroX employees across the globe.

“At a time when other fintechs state that they are not even targeting profitability, we are proud to be a well funded, profitable business that is growing both in terms of geographical coverage but also product range, concluded Yoni Assia. “We are a trading and investing platform that not only provides clients with access to the assets they want from commission-free stocks and ETFs through to FX, commodities and cryptoassets, but also lets customers choose how they invest. They can trade directly, copy another trader or invest in a portfolio. We believe in empowering our clients and the acquisition of Delta will allow us to add an important new element to our offering.”

About eToro 

eToro was founded in 2007 with the vision of opening up the global markets so that everyone can trade and invest in a simple and transparent way. The eToro Group consists of the eToro platform, our multi-asset trading and investment venue, and eToroX, which manages our crypto wallet and forthcoming exchange.

The eToro platform enables people to invest in the assets they want, from stocks and commodities to cryptoassets. We are a global community of more than ten million registered users who share their investment strategies; and anyone can follow the approaches of those who have been the most successful. Due to the simplicity of the platform users can easily buy, hold and sell assets, monitor their portfolio in real time, and transact whenever they want.

As technology has evolved, so has our business. In 2018, we created eToroX, our digital asset subsidiary. eToroX provides the infrastructure, in the form of a crypto wallet and the forthcoming exchange, that supports our commitment to facilitating the evolution of tokenized assets. We believe that leveraging blockchain technology will enable us to become the first truly global service provider allowing everyone to trade, invest and save.

About Delta

Delta is one of the leading crypto portfolio management tools covering over 6,000 cryptoassets from more than 180 exchanges. It provides investors with a range of tools to track and analyze their crypto portfolios. To date, Delta has been downloaded by over 1.5 million users and has hundreds of thousands of active monthly users.

Disclaimer:

eToro is regulated in Europe by the Cyprus Securities and Exchange Commission and regulated by the Financial Conduct Authority in the UK.

eToroX is incorporated in Gibraltar with company number 116348 and its registered office is at 57/63 Line Wall Road, Gibraltar. It’s distributed ledger technology (DLT) provider licence was granted by the Gibraltar Financial Services Commission in December 2018 (licence number FSC1333B).

Trade

World’s Richest 22 Men Are Worth The Same As All 325 Million Women In Africa — New Oxfam Report Reveals

Published

on

By

READ LATER - DOWNLOAD THIS POST AS PDF

“Wealth inequality remains shockingly high.” This is the sobering conclusion of Oxfam’s latest report, published on the eve of the World Economic Forum Annual Meeting 2020.

The 162 richest people on the planet boast the same wealth as the poorest 50 percent — 3.85 billion — in the world.

From Tuesday, January 21, close to 3,000 delegates — including 53 heads of state — from 117 countries, will participate in the WEF summit in Davos-Klosters, Switzerland. According to the website blurb, the WEF Annual Meeting is “the foremost creative force for engaging the world’s top leaders in collaborative activities to shape global, regional and industry agendas at the beginning of each year”.

This year’s topic, for the great and the good of the business world and politics, is “stakeholders for a cohesive and sustainable world”. While the hellish fires raging in Australia fan the flames for climate change, the perverse irony that most of the 774 public speakers will have been flown into the summit will not be lost on the people who are truly concerned about the heating of the world.

Similarly, that many of the wealthiest people in the world will gather to no doubt use the WEF platform to further boost their richest, through additional business deals and contacts, while…

Continue Reading

Trade

Cryptocurrency Prices Rally Towards Double-Digit Gains in 2020

Published

on

By

READ LATER - DOWNLOAD THIS POST AS PDF

The cryptocurrency market has started 2020 with a huge bang, expanding by an impressive 23% within the first two weeks of the year. The overall market capitalization of the cryptocurrency market – a measure of the size of the market – has grown from $192 billion at the start of the year, to well over $240 billion by the middle of January.

Leading the pack is Bitcoin (BTC), which constitutes more than 65% of the overall market size. Going from just under $7,200 at the end of 2019 to a high of $8,800, Bitcoin recorded double-digit gains within two weeks. January 14 saw a spike of more than 11% in Bitcoin’s price, fuelling speculation that the two-year-long cryptocurrency recession could finally be over.

Bitcoin Price Chart

Among the many factors that contributed to Bitcoin’s price increase was the geopolitical upheaval emanating from increasing tensions between the USA and Iran, which led to a flight of safety capital by investors, to safe-haven assets such as gold. Already established as a manifestation of digital gold, it seems hardly coincidental that the prices of both gold and Bitcoin went up.

Another catalyst for the increase was the official…

Continue Reading

Trade

The Recipe that Causes Bitcoin to Rise: Economic and Geopolitical Uncertainty

Published

on

By

READ LATER - DOWNLOAD THIS POST AS PDF

As the world anxiously watched the turbulent events in the Middle East this week, investors have turned to the known safe havens for times of crisis. Throughout history, gold has been a proven investment vehicle during similar tumultuous times, from wars to crises to economic depressions. Yet, over the last week, we saw a notable development that should be carefully analyzed. The increasing heat within the Middle East fueled an event that many anticipated, which allowed the digital heir of gold to demonstrate its intensity and power for (almost) the first time. Who is this heir? Bitcoin, of course.

The assassination of Iranian general Qasem Soleimani and the Iranian missile attacks on US forces in Iraq gave rise to aggressive statements by both the US President and Iran’s leaders and raised genuine concerns regarding potential escalation crossing into other parts of the world. “Third World War” headlines were even spotted in certain media outlets. The response of investors was short and sharp: the global stock markets fell, and everyone rushed for financial cover, many to buy Bitcoin.

Historically Speaking

Throughout history, the acknowledged destination for investment in such situations has been Gold: a scarce asset that retains its value and is detached from the possibly harmful influence of governments and the ordinary markets. And indeed, this week Gold hit a seven-year high (together…

Continue Reading

eToro