Digital Currency Revolution Series: eToroX unveils cryptocurrency exchange and stablecoins

eToroX, a social investing platform which is the blockchain division of global investment company eToro, has unveiled its cryptocurrency exchange. eToroX is a secure and regulated trading venue offering a wide range of crypto assets as well as a suite of stablecoins, and will begin trading six cryptocurrencies, namely: Bitcoin (BTC), Ethereum  (ETH), Ripple (XRP), BitcoinCash (BCH), Dash (DASH), and Litecoin (LTC), that will allow for trades with 37 crypto-fiat pairs.

Eight stablecoins are labeled with the exchange’s name:  eToro United States Dollar (USDEX), eToro Euro (EURX), eToro Pound Sterling (GBPX), eToro New Zealand Dollar (NZDX), eToro Japanese Yen (JPYX),  eToro Swiss Franc (CHFX), eToro Australian Dollar (AUDX) and  eToro Canadian Dollar (CADX).

Yoni Assia, the CEO of eToro, expressed his views on how he believes that blockchain-based assets will shape the near future:

“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.”

The U.S. managing director of eToro, Guy Hirsch says that “Late 2018 has seen the cryptocurrency market take a huge tumble, but that has not stymied investors’ interest in the asset class and its potential. Online investors are still keeping their eye on cryptocurrencies, but this survey revealed that there is a serious lack of educational resources available to those who would like to invest in or learn more about crypto. As we move toward a future where assets will become increasingly tokenized, it’s important to give investors access to the resources they need to invest in the assets they want and truly consider crypto-assets as part of their long-term investment plan.”

Currency Strength Index: FxWirePro's hourly BTC spot index is flashing at 117 (which is bullish), while hourly USD spot index was at 17 (mildly bullish) while articulating at 05:56 GMT. 

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