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eToroX launches crypto exchange including suite of unique stablecoins

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eToroX, the blockchain division of global investment company eToro, this week announced the launch of its crypto exchange – a secure and regulated trading venue offering a range of cryptoassets and suite of stablecoins.

“Just as eToro has opened up traditional markets for investors, we want to do the same in the tokenized world,” eToro cofounder and CEO Yoni Assia said. “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.”

Yoni Assia

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); and
  • 37 pairs including BTC-USD and XRP-GBP.

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. 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 provider by the Gibraltar Financial Services Commission.

“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,” eToroX managing director Doron Rosenblum said. “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.”

“We believe that we will see the greatest transfer of wealth ever as financial services move onto the blockchain,” Mr. Assia said. “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.”

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