The social investment company – eToro – reportedly rolled out its cryptocurrency trading platform via its blockchain arm.
The company announced on Twitter yesterday:
"eToroX Launching today: fully regulated crypto exchange"
As the company spokesperson stated the announced exchange will be known as eToroX and fully regulated by the Gibraltar Financial Services Commission. The platform will offer its users trading services supporting different stablecoins.
According to the exchange's website, it supports now six cryptocurrencies, including bitcoin, Bitcoin Cash, Ethereum, XRP, Dash and Litecoin along with crypto to fiat pairs running to 37.
"The blockchain technology revolutionizes the financial world by enabling new ways of doing business and transacting assets between people, companies & governments – cheaper, faster and more secured," said Yoni Assia, eToro Chief Executive Officer & Founder.
Besides, the company has also launched stablecoins based on fiats: USDEX, JPYX, EURX, CNYX, RUBX, CADX and more. The whole list of supported stablecoins is provided on the official website.
Along with fiat-based stablecoins, the new platform also offers stablecoins pegged to gold and silver – GOLDX and SLVRX.
In the near term, the exchange plans to add more digital assets as well as stablecoins.
For reference, eToro reportedly acquired Firmo, which focuses on smart contracts. With this purchase, the company plans to start offering tokenized derivatives on all leading blockchains.