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eToroX launches crypto exchange including suite of unique stablecoins

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– Secure, regulated exchange to help traders access tokenized assets –

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.”

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 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 tokenized 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.

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).

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eToro Launches Sentiment-Based Portfolio for Crypto Investors

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eToro users can now invest in a professional-grade algorithmic strategy from The TIE

October 15, 2019 —  eToro, the leading global investment platform, announces the launch of TheTIE-LongOnly CopyPortfolio, offering users access to a sentiment-based, AIgo-driven investment strategy from The TIE, a cryptocurrency data analytics platform trusted by some of the largest traditional quantitative hedge funds as well as crypto-specific funds.

Guy Hirsch, US Managing Director of eToro, said: “In traditional markets, retail investors have historically lagged behind the ‘smart money’ when it comes to the data and tools available to them. This puts individual investors at a major disadvantage. In the spirit of crypto and decentralized technology, we believe that offering institutional-grade tools to every investor will level the playing field and democratize investing.” 

Cryptocurrency fundamentals are still maturing. They have no revenue, dividends or debt. As a result, social sentiment — people’s positive or negative perceptions — is a significant indicator of crypto asset  price movement. The Tie’s proprietary machine learning and language processing models ingest 850 million tweets per day, quantifying the positive and negative tone of conversations on Twitter. TheTIE-LongOnly CopyPortfolio strategy allocates based on positive sentiment, algorithmically rebalancing once per month.

Joshua Frank, CEO of The TIE, said: “eToro is well-known as a community where some of the smartest crypto traders share insights and strategies. We’re proud to offer investors of…

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Version 2.0 of eToro’s open-source programming language Lira developed to write options contracts

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8 October 2019: eToro, the global multi-asset investment company, has announced that Lira, the open-source programming language developed by eToroX Labs, has evolved to write options contracts on the Ethereum Blockchain for the OTC derivatives market.

Announced at a workshop at Devcon V, Osaka, on 8th of October 2019, Dr Omri Ross, eToro’s chief blockchain scientist demonstrated Lira 2.0’s new features, including writing options contracts. The Lira programming language, recently referred to* as one of the “most imaginative things happening in DeFi today” is one of only two such open source solutions on the market, and is all the more exclusive since it is formally verified.

Responding to the announcement, eToro CEO Yoni Assia commented: “eToro has long held the belief that we will eventually see all tradable financial assets tokenized. Lira, our open source programming language, is a step towards making this a reality, enabling the entire community to write and deploy secure financial contracts on Ethereum. The workshop where this was announced was a central event at Devcon, which is significant in demonstrating how the blockchain community shares our vision for open finance.”

Dr. Ross commented: “I am delighted to see the excitement of the community in response to this project. Developers will now be able to…

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Planning on joining the crypto revolution? What does it take to be a successful trader?

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The potential rewards that can result from successful crypto trading have led to a whole new type of trader entering the fray. Amateur and hobby traders have always been part of the market, but till recently, they constituted an insignificant minority. Yet a combination of new online trading tools becoming available and Bitcoin hitting the headlines for its meteoric rise in value a couple of years ago led to the world and his wife wanting a slice of the pie.

Fools rush in where angels fear to tread, and inevitably, many got their fingers burnt and withdrew a little wiser, and often a lot poorer. That’s not due to any inherent fault on the part of the markets – we all know they can go down as well as up. It’s simply a case of inexperienced traders making poor decisions.

As with anything in this world, doing a successful job demands the right tools. Here, we take a look at what an amateur trader needs at his or her disposal in order to hit the ground running and avoid those early mistakes that can be so costly. We will also look at one particular provider, eToro, which has recently entered the US market and seeks to provide a one-stop-shop that delivers everything you will need. 

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Crypto trading is all…

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