eToro social investing platform is launching a fully-fledged crypto exchange and mobile wallet and it’s expanding into the U.S.
The company is based in Israel, and it just opened the waiting list for people in the U.S. who plan to trade Bitcoin, Ethereum, Litecoin, XRP, Dash, Bitcoin Cash, Stellar, Ethereum classic, NEO, and EOS.
“Consumers all over the world should have access to the tools they need to participate in cryptocurrency markets, regardless of their expertise,” CEO Yoni Assia said in a press release.
eToro used to offer crypto trading on a limited basis
Back in 2014, eToro introduced contracts for difference CFDs in which users were able to bet on the direction of Bitcoin’s price without having to touch the crypto.
This year, the company allowed customers to buy and sell XRP, Ether, and Litecoin on the platform but you were not able to deposit and withdraw cryptos from their accounts.
Now eToro is set to launch a true cryptocurrency exchange, together with a corresponding mobile wallet, by the end of this year. The new exchange will feature bonus over-the-counter trading options for institutional investors.
The main thing that will set eToro apart from other exchanges is that top crypto traders will be able to reap income by making their portfolios transparent on eToro while at the same time allowing other traders to copy their trades.
More assets to be tokenized
Guy Hirsch, eToro’s U.S. managing director, told CoinDesk that users could directly message traders they copy:
“If the market is bitcoin, then every time there is a mention about bitcoin by some other user you’ll be able to see that in your news feed. You’ll be able to comment on that, share that or like it. Similarly, you can start a conversation about bitcoin, then other people who have bitcoin on their watch list will be able to see your post.”
He also said that he expects all assets including real estate, commodities, metals, stocks, intellectual property and more to be tokenized during the next ten years in a way that will lend greater liquidity to markets via exchanges.