Social trading platform eToro[1] has had a great start to the year, and as it gets ready to launch a cryptocurrency offering in the U.S., set to take place in the second half of 2018, and its eToro wallet, the platform has revealed that it will be launching its own exchange later this year.
Yoni Assia, co-founder and CEO of eToro, was speaking to CoinJournal during the Consensus conference in New York, when he made the announcement.
“We are building the exchange in order to support hundreds of tokens,” he said.
While he didn’t clarify which tokens the exchange would initially support, Assia said that it would start out as a crypto-to-crypto exchange, which would eventually offer fiat as well. The launch of its own dedicated digital currency wallet will also further boost the platform’s standing among the crypto world, giving users the tools they need to take part in the industry.
“This will enable people to buy cryptos directly, and send and receive Bitcoin, Ethereum, Litecoin, Bitcoin Cash, etc.,” Assia said. “When a customer today buys Bitcoin at eToro they already buy the Bitcoin, but until today we didn’t enable our customers to actually send and receive Bitcoin.”
News of this comes at a time when eToro raised $100 million during a venture round in March, led by China Minsheng Financial. In recent months, the trading platform has also been expanding on its cryptocurrency offerings, including Stellar[3], NEO, and EOS. Following the addition of these altcoins, eToro now boasts support for 10 cryptocurrencies, the others being Bitcoin[6], Ethereum[7], BCH, XRP[9], Litecoin[10], Ethereum Classic, and Dash[11].[2][4][5][8]
With
