Leading social investment broker eToro has announced that they have added an exciting addition to their blockchain division eToroX.
The eToro Gold (GOLDX) and eToro Silver (SL VX) commodity-stablecoins.
That’s not all…
In addition to the 2 commodity-stablecoins ,they have also added 2 fiat-stablecoins: the eToro Ruble (RUBX) and eToro Yuan (CNYX) – and an addition of 15 fiat pairs to its crypto exchange.
This move broadens the range of assets and will offer traders more investment choices and options on their secure regulated exchange eToroX.
In addition to the existing 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), 5 cryptos (Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), BitcoinCash (BCH) and Litecoin (LTC) and 43 pairs including BTC-USD, XRP-GBP etc.
The addition of the new instruments to the eToroX exchange are:
• 2 commodity-stablecoins: eToro Gold (GOLDX) and eToro Silver (SLVX)
• 2 new fiat-stablecoins: eToro Ruble (RUBX) and eToro Yuan (CNYX)
• 17 fiat pairs: USDEX-EURX, USDEX-GBPX, USDEX-JPYX, USDEX-CHFX, USDEX-AUDX, USDEX-NZDX, USDEX-CADX, USDEX-RUBX, USDEX-CNYX, EURX-GBPX, EURX-JPYX, EUR-CHF, EURX-AUDX, EURX-NZDX, EURX-CADX, GOLDX-USDEX and SLVX-USDEX.
• The 2 commodity-stablecoins and 10 fiat-stablecoins are all ERC20 tokens
The co-founder and CEO of eToro commented on this breaking news saying that the key stumbling block of crypto assets which needs to be overcome is the adoption of price stability.
He believes that stablecoins will rule out this obstruction and create a more user-friendly way for clients to interact with the blockchain.
Expanding the fiat-stablecoin range to 10 and adding eToro Gold and eToro Silver eToroX will show the huge potential that tokenized assets offer.
Yoni Assia, who is a firm believer in blockchain technology, said that the future of finance will see the biggest transfer of wealth onto blockchain because of its transparency and its new model for asset ownership, changing the future of the financial sector.
Managing Director of eToroX, Doron Rosenblum commented that the addition of the fiat pairs means that people for the first time, will now be able to trade FX around the clock in addition to the traditional gold and silver assets.
He continued saying that people can now trade, hedge and close exposure anytime and that since the launch of eToroX they have 17 new instruments on their exchange.
Showing their commitment to expanding the exchange and the possibilities that blockchain offers. He is keen to keep pushing the boundaries with innovation.
What’s the real story?
Get acquainted with eToroX and the people
A subsidiary of eToro, eToroX has a small, highly specialized team of 70 people who are self-sufficient and able to move fast keeping pace with market demands.
Yoni Assia’s unwavering belief in the future potential of blockchain technology paved the way to form eToroX in 2018 to facilitate the evolution of tokenized assets and support eToro.
After receiving a distributed ledger technology (DLT) license by the Gibraltar Financial Services Commission, they launched eToroX.
They are one of the first providers that the Gibraltar Financial Services Commission has granted authorization to.
The decision to have a heavily regulated platform regulated by the Gibraltar Financial Services Commission came about after looking at the crypto space and the blockchain technology, where many regulators are still trying to figure out.
When it came to DLT and crypto coins, Gibraltar regulators have a forward-thinking approach.
In order to survive the crypto space and primarily to give support to eToro’s commitment to facilitating tokenized assets, eToroX will run the exchange and provide the newly launched wallet, with speed.
Today, eToro through its revolutionary social trading platform, has over 10 million active and registered users who are able to share and copy one another’s investment strategies.
They started operations in 2007.
They offer investors and traders a multi-asset trading and investment venue where they can easily buy, hold and sell asset and monitor their portfolio in real time.
They are regulated in Europe by the Cyprus Securities and Exchange Commission and by the Financial Conduct Authority in the UK.
eToro believes that by leveraging blockchain technology, they will be the first true global service provider where everyone can trade, invest and save.