eToroX announces new cryptoasset and multiple fiat pairs
7 August 2019: eToroX, the blockchain subsidiary of global investment platform eToro, today announces that Stellar (XLM) is now available on the eToroX exchange.
As of today, eToroX is making Stellar a base currency for trading pairs on eToroX. It will be tradeable against other cryptoassets and stablecoins. The pairs include USD (XLM-USDEX) GBP (XLM-GBPX), Japanese Yen (XLM-JPYX), Euro (XLM-EURX), and with Bitcoin (BTC-XLM), and Ethereum (ETH-XLM).
“We want to open up the tokenized world for everyone,” said Doron Rosenblum, Managing Director of eToroX. “eToroX is bringing crypto and tokenized assets to a wider audience and enabling them to trade with confidence on a secure and regulated platform.”
“We believe that blockchain technology has the means to include more people in a new financial world, who might have been previously excluded from it. Stellar shares this ethos, which is why we are excited to be adding it to our exchange and on-chain wallet for people to buy, sell and hold, 24/7.”
Stellar is an open source and decentralized payment network protocol with its own currency (XLM), which connects banks, payment systems and people, aiming to provide global access to low-cost financial services for all.
“It’s exciting that eToro has added Stellar Lumens as a base currency on the eToroX exchange,” said Jed McCaleb, CTO of the Stellar Development Foundation. “We believe eToro is playing an important role in bridging the gap between traditional financial markets and the blockchain world.”
As eToroX seeks to open up the world of crypto trading to more people, it plans to announce further trading pairs whereby more crypto base currencies are pegged to fiat counter currencies. In the coming months, eToroX will also look to launch new cryptoassets and stablecoins.
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.
eToroX is a subsidiary of the eToro Group. The business was formed in 2018 to provide the infrastructure to support eToro Group’s commitment to facilitating the evolution of tokenized assets. It provides eToro’s newly launched wallet and runs the exchange.
The distributed ledger technology (DLT) provider licence was granted by the Gibraltar Financial Services Commission to eToroX in December 2018 (licence number FSC1333B). eToroX is incorporated in Gibraltar with company number 116348 and its registered office is at 57/63 Line Wall Road, Gibraltar.
eToro is regulated in Europe by the Cyprus Securities and Exchange Commission, by the Financial Conduct Authority in the UK and by the Australian Securities and Investments Commission in Australia.
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).
EOS now available on eToroX exchange
eToroX announces new cryptoasset and blockchain protocol, and multiple fiat pairs
3 December 2019: eToroX, the blockchain subsidiary of global investment platform eToro, today announced that the EOS cryptoasset is now available on the eToroX exchange.
From today, EOS will be both a base and counter currency for trading pairs on eToroX, and can be traded against other cryptoassets, including multiple fiat stablecoins. The pairs comprise Bitcoin (BTC-EOS), Ethereum (ETH-EOS), Stellar (EOS-XLM), USD (EOS-USDEX), GBP (EOS-GBPX), and Japanese Yen (EOS-JPYX).
With the launch of EOS on the eToroX Exchange, eToroX is now one of the few crypto and blockchain exchanges to have all five top cryptoassets — Bitcoin, Ethereum, Stellar, XRP and of course EOS — paired against multiple fiat stablecoins (including CADX, CHFX, and many more).
Doron Rosenblum, eToroX Managing Director, spoke about eToroX’s vision of opening up access to the tokenized world. “We believe that we can leverage blockchain technology to open up financial markets. The flexibility, scalability, and secure processing capabilities of the EOSIO protocol significantly help the push towards mass adoption, which is an integral part of our ethos.”
He continued, “We are extremely excited to add an EOSIO-based cryptoasset to our secure and regulated exchange. The launch of yet another blockchain protocol shows how…
Trusted third parties should issue stablecoins, not Facebook
eToro believes partnering with authorised partners is the key to success for Libra
If Facebook’s Libra project is to succeed it should use stablecoins issued by regulated third parties rather than create its own cryptoassets; that’s the conclusion of a new position paper published by eToro.
Libra has come under fire from politicians and regulators in the US, UK and Europe, who are worried by parent company Facebook’s scale and power, as well as its previous track record with customer data. However, eToroX Labs, the blockchain research arm of eToro, says that Libra’s aim of creating a peer-to-peer payment network that could be used by millions of unbanked consumers around the world is too great to ignore.
Rather than create its own digital currency, dubbed ‘ZuckBucks’ by US politicians, eToro believes the issuance of stablecoins backed by fiat currencies should be delegated to regulated third party partners. This would remove Facebook from the responsibility of controlling a currency, so it could focus on Calibra becoming the first wallet to provide infrastructure for a payment system that could be accessed by over 2.7 billion users globally via WhatsApp and other Facebook platforms and benefit a huge unbanked population.
Yoni Assia, CEO and Co-founder of eToro and co-author of the position paper, explains: “The Libra project is…
Not-For-Profit GoodDollar Secures Funding For 2020 As UBI Project Celebrates First Birthday
GoodDollar, the non-profit organisation aiming to reduce global wealth inequality through blockchain technology and universal basic income (UBI) principles, celebrates its first birthday this November.
The concept is that all members on the platform claim cryptocurrency – GoodDollars (G$) – every day, helping to build greater financial stability and empower the poor, lifting them out of poverty. Once launched, GoodDollar hopes to create new trade, new marketplaces, new entrepreneurs, new jobs, new economic growth, and new business for everyone.
Yoni Assia, Chief Executive of multi-asset investment platform eToro, officially launched GoodDollar at Web Summit 2018. This year, Mr Assia pressed the case for a decentralised payment and donation network that distributes its value to all users equally through built-in UBI. Read more here
Boosted by the initial $1 million funding from eToro, the GoodDollar team is on course to launch a beta version of its wallet application in early 2020, following successful testing on its alpha prototype earlier in the year.
The alpha version of the app was…