eToro Targets Professional Traders With New Exchange
Today, social trading platform eToro launched its crypto exchange, eToroX, aimed at more professional crypto traders that are looking to trade tokenized assets.
"eToroX targets more advanced crypto traders by providing them with a regulated and secure environment to trade crypto assets on the blockchain," a spokersperson of the company told Cryptonews.com, adding that some people might still use both the traditional trading platform of eToro and eToroX’s exchange.
"Some users will choose to use the exchange because it offers trading options that don’t exist on the eToro platform. Today, the eToro platform offers a variety of instruments that don’t yet exist on the exchange so some users may continue to use the platform," according to the spokesperson.
At launch the exchange will have a range of instruments including:
- 8 fiat-stablecoins (eToro New Zealand Dollar (NZDX), eToro Japanese Yen (JPYX), eToro Swiss Franc (CHFX), eToro United States Dollar (USDEX), eToro Euro (EURX), eToro Pound Sterling (GBPX), eToro Australian Dollar (AUDX), eToro Canadian Dollar (CADX)
- 6 cryptocurrencies (Bitcoin, Ethereum, Ripple, Dash, Bitcoin Cash and Litecoin)
- 37 pairs including BTC-USD, XRP-GBP etc.
“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,” Doron Rosenblum, Managing Director of eToroX, was quoted as saying in a press release.
Previously, eToro estimated to launch its exchange by the end of 2018, however, eToroX was granted a Distributed Ledger Technology (DLT) license from the Gibraltar Financial Services Commission only in December, according to the spokesperson.
Trading fees at eToroX