The social trading and multi-asset brokerage company eToro has launched a cryptocurrency wallet, hence opening up the market to its broad base of registered users.  

“Blockchain has the Potential to Revolutionize Finance”

eToro – a global investment platform which reportedly harbors over 10 million registered users announced the launch of a cryptocurrency wallet. According to the release, the solution will be bringing enhanced customer interface and security and will also allow users to track on-chain transactions and balances.

Speaking on the matter was Yoni Assia, CEO at eToro, who noted:

We believe that crypto and the blockchain technology that underpins it will have a huge impact on global finance. Blockchain has the potential to revolutionise finance and we believe that we will see the greatest transfer of wealth ever onto the blockchain. We believe that in the future all assets will be tokenised and that crypto is just the first step on this journey. Just as eToro has opened up traditional markets for investors, we want to do the same in a tokenised world. The eToro wallet is a key part of this.

It’s noteworthy that the eToro wallet will initially support Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. However, the release says that the company will be adding more cryptocurrencies in the near future.

eToro’s Foray Into the Cryptocurrency Market

Earlier in March 2018, the company raised $100 million in a venture funding round. This money is intended to go towards blockchain-backed developments. Furthermore, the company has also added numerous crypto assets in order to meet the demand of investors for more exposure to different types of altcoins.

In a continuation to bring the industry forward, the company recently signed a sponsorship deal with seven Premier League football clubs.

To further attest to the company’s serious intentions towards the cryptocurrency field, Assia also added:

The eToro wallet today is just the beginning and we will adding a whole host of additional functionality which will include supporting additional crypto and fiat tokens, crypto to crypto conversion, the ability to deposit fiat, payment in store and more.

What do you think of eToro’s cryptocurrency wallet? Don’t hesitate to let us know in the comments below!

Images courtesy of ShutterStock and eToro

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