Blockchain division of global social trading platform eToro has launched a crypto exchange for pro traders

EToroX claims to be a secure a secure and fully regulated trading venue. As for now, the platform offers 37 trading pairs, with the ability to convert six cryptocurrencies to fiat, such as the dollar, euro and Swiss franc.

The exchange currently allows users to trade bitcoin (BTC), ethereum (ETH), ripple (XRP), dash (DASH), bitcoin cash (BCH) and litecoin (LTC). According to the managing director of eToroX, Doron Rosenblum, the exchange will launch more pairs in coming months.

Moreover, eToroX has launched eight stablecoins that are backed by the New Zealand dollar (NZDX), Japanese yen (JPYX), Swiss franc (CHFX), United States dollar (USDEX), euro (EURX), U.K. pound sterling (GBPX), Australian dollar (AUDX), and Canadian dollar (CADX). The stablecoins will be issued and controlled by eToroX.

Co-founder and CEO of eToro, Yoni Assia, said that the platform is set to bring crypto to a larger range of investors:

“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.”

Assia believes that financial services will eventually be transferred to blockchain, as the tech brings a new paradigm for asset ownership. According to him, traditional asset classes such as art and property will also be tokenized.

Also read: KT Corporation, South Korea’s largest telecom firm, has launched its Blockchain-powered 5G network brand

Source: https://cointelegraph.com/news/etoro-blockchain-division-launches-crypto-exchange-for-pro-traders-issues-8-stablecoins