eToro Launches Regulated Crypto Exchange, Dodges Bitcoin SV Bullet
By CCN: Institutional investors are running out of excuses not to invest in crypto. Israeli-based social trading platform eToro has launched eToroX, a fully regulated crypto exchange. eToroX debuts with half-a-dozen top cryptocurrencies and eight fiat currency-backed stablecoins, the latter of which are now open-source.
One cryptocurrency noticeably absent from the list is Bitcoin SV, which can’t be found on the traditional eToro trading platform, either. Given the timing of eToroX’s launch, which comes just a day after other crypto exchanges have scrambled to delist the cryptocurrency created by the controversial Craig Wright, eToro just dodged a serious bullet.
If you want to make a real lasting impression @yoniassia, make sure to tell everyone on-stage that @eToro and @eTorox never listed $BSV
— Udi Wertheimer (@udiWertheimer) April 16, 2019
Opening the Floodgates to Big Investors
eToro Founder and CEO Yoni Assia was the keynote speaker at the Paris Blockchain Week Summit, where he described how eToroX hopes to bridge a divide between the financial markets and crypto with its stablecoins and tokenization of other assets. With less than $200 billion in combined market cap, crypto still has a long way to go. Assia stated:
“[Crypto] is still a drop in the ocean compared to $140 trillion of assets under management [in the capital markets.] That’s a big gap. In the blockchain industry, everything everyone is building will start moving when the transition of assets starts shifting into the blockchain.”*
He also described the urgency for a trading platform that supports the tokenization of pretty much any asset in real-time 24/7. He stated:
“Most crypto exchanges only trade crypto assets and core assets…in the future we believe the entire ecosystem will enable people to trade new kinds of tokenized assets, whether equity, property/real estate, or art, they will be able to trade and invest in a wide variety of assets coming from countries all over the world.” *
