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eToro has launched a new exchange supporting several cryptocurrencies including Dash, as well as eight fiat currency stablecoins.
— eToroX (@eTorox) April 16, 2019
Global trading community and platform eToro has announced the launch of the eToroX cryptocurrency exchange.
According to Doron Rosenblum, Managing Director of eToroX, the exchange is one of the few fully-regulated ones in the industry:
“We are proud to be one of the first companies in the world to obtain a license for cryptoassets, and one of only a handful of regulated exchanges in the crypto space. In the coming weeks and months we will add more cryptoassets, stablecoins and tokens to the exchange and will work with other exchanges to encourage them to list our growing range of stablecoins.”
The exchange supports several cryptocurrencies including Dash, Bitcoin, Bitcoin Cash, XRP, and Litecoin, as well as fiat currency-pegged stablecoins for USD, EUR, GBP, CAD, AUD NZD, JPY, and CHF.
Growing the access to digital assets for a world rapidly going crypto
Yoni Assia, co-founder and CEO of eToro, believes that tokenized assets represent the global financial future, and intends to expand secure access to them to the greater populace:
“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.”
According to Assia, the inherent transparency of blockchain-based systems will lead to its eventual global hegemony in areas not limited to finance:
“We believe that we will see the greatest transfer of wealth ever as financial services move onto the blockchain. The blockchain brings transparency and a new paradigm for asset ownership. In time, we will see the tokenization of all traditional asset classes, as well as the emergence of new asset classes such as tokenized art, property or even IP. Cryptoassets are just the first step on this journey and we are excited to explore the opportunities offered by tokenization with the launch of our exchange.”
The move into expanded access for digital tokens represents a growing global financial trend. According to a recent survey commissioned by eToro, millennials tend to favor cryptocurrencies over traditional assets. A joint research paper conducted by eToro and Imperial College London predicted that cryptocurrencies will be mainstream for payments within a decade. Finally, a market research report released by the platform indicated that Dash, one of the more prominent payments-focused coins, is “acutely undervalued” when compared to other cryptocurrencies.
This combination of findings leads to a strong inference that Dash has a prominent place in the future world of finance.
SBI Virtual Currency, one of licensed exchanges in Japan, decides to delist BCH（ABC）suddenly, blaming its price decline and a lack of security because of that. interesting move.
Many wonder if it's because of its close relationship with nchain and BSVhttps://t.co/1LOCxhF8yP
— Koji Higashi (@Coin_and_Peace) April 16, 2019
More exchange options welcome during the age of listing wars and few-exchange dominance
The addition of more exchanges, brokerages, and other trading and acquisition opportunities for cryptocurrency comes at a time where the greater ecosystem still suffers from limited options and dominance from a few large, key players. This week, several prominent exchanges, beginning with Binance, moved to delist Bitcoin SV following legal threats and intimidation attempts by several of the project’s key figures. Possibly in retaliation due to close relationships with prominent SV leaders, licensed Japanese exchange SBI Virtual Currency delisted Bitcoin Cash.
Resulting from the initial series of delistings, Bitcoin SV dropped sharply from about $73 on Monday to about $55 on Tuesday, with high trading volume as many users quickly sold their holdings. This incident suggests that a limited number of major exchanges may have significant sway over the direction of the markets, and therefore the future of cryptocurrencies they list, increasing the relative value and need for decentralized exchanges and trading platforms.
An earlier version of this incorrectly stated that SBI Virtual Currency listed Bitcoin SV, which has now been corrected.