eToro’s Latest Acquisition Boosts its Crypto Presence

Social trading and investment platform eToro is making moves this month. In addition to launching CopyTrader in the U.S. last week, the company announced today it has acquired Delta, an app for tracking crypto portfolios.

Delta’s app helps its 1.5 million users track and analyze their crypto portfolios, offering information on more than 6,000 crypto assets traded on more than 180 exchanges.

The deal will close for an undisclosed amount, though TechCrunch rumors the purchase price is around $5 million. Delta is eToro’s second acquisition this year (and overall) after buying blockchain company Firmo in March.

“When we started eToro our goal was to disrupt the world of trading. We wanted to change the way people think about trading and investing, ultimately reducing dependency on traditional financial institutions and make trading and investing more transparent and fun,” said eToro Cofounder and CEO Yoni Assia. “This mission remains our guiding light and we will continue to evolve both organically and by acquisition in order to bring our customers the very best experience.”

eToro’s purchase of Delta shows the company’s increased commitment to the crypto space. Last year the company launched its subsidiary eToroX, a regulated digital asset exchange and crypto wallet to support tokenized asset trading. Doron Rosenblum, Managing Director of eToroX, said that Delta is “a great addition” to eToro’s crypto offering. Rosenblum also mentioned that he plans to integrate Delta into the eToroX platform to allow customers to trade from within the app.

Logistically, the Delta team will become part of eToroX, reporting to Rosenblum, but will continue working from its headquarters in Belgium.

And if you haven’t seen eToro’s video featuring Alec Baldwin pitching the U.S. launch of CopyTrader, here you go:

eToro most recently showcasedCopyFunds for Partners at FinovateEurope 2017. Originally known for being a social trading platform, the company began pioneering bitcoin trading in 2013 via CFDs and in 2017 allowed clients to trade and invest in Ethereum, XRP, Litecoin, and other cryptocurrencies. eToro has raised $223 million since it was founded in 2007.

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eToro’s eToroX Unveils Cryptocurrency Exchange

Social trading and investment platform eToro unveiled the launch of eToroX at Paris Blockchain Week today. The new platform is a digital asset exchange regulated by the Gibraltar Financial Services Commission.

Doron Rosenblum, Managing Director of eToroX, said, “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.”

The exchange supports six cryptocurrencies: Bitcoin, ether, ripple, dash, bitcoin cash, and litecoin. eToroX will also support eight fiat stablecoins, including:

  • 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)

“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,” Rosenblum added.

eToro, which has 15 cryptocurrencies on its platform, launched eToroX in 2018 to support tokenized asset trading. eToroX’s cryptocurrency wallet and, soon, exchange, help drive the company’s aim to allow everyone to trade, invest, and save.

“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,” said Yoni Assia, co-founder and CEO of eToro. “This is the future of finance. Blockchain will eventually ‘eat’ traditional financial services through tokenization.”

eToro most recently showcased CopyFunds for Partners at FinovateEurope 2017. Originally known for being a social trading platform, the company began pioneering bitcoin trading in 2013 via CFDs and in 2017 allowed clients to trade and invest in Ethereum, XRP, Litecoin, and other cryptocurrencies. eToro has raised $223 million since it was founded in 2007.

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    eToro Buys Blockchain Company Firmo

    Just weeks after launching in the U.S., trading and investment platform eToro announced plans to purchase Copenhagen-based blockchain firm Firmo. The terms of the deal, which marks eToro’s first acquisition, were not disclosed.

    With today’s purchase, eToro aims to grow tokenized financial assets on its platform. To facilitate that growth, the Israel-based company is specifically interested in bringing on Firmo’s research and development team.

    “This acquisition,” eToro CEO Yoni Assia told Bloomberg, “will help boost our growth in the future tokenized economy. We aim to be active players in blockchain consolidation.” And eToro may be ahead of the curve on this one– according to Bloomberg, tokenized assets will play a huge role in 2019 as investors seek to convert assets such as property and stocks into tradable digital assets.

    Founded in 2017, Firmo offers a programming language called FirmoLang that runs on a sidechain. Exchanges can leverage FirmoLang to create financial instruments such as P2P lending platforms or cryptocurrency derivatives with tokens. And Firmo is versatile, allowing the tokens to be run on any blockchain.

    eToro most recently showcased CopyFunds for Partners at FinovateEurope 2017. Originally known for being a social trading platform, the company began pioneering bitcoin trading in 2013 via CFDs and in 2017 allowed clients to trade and invest in Ethereum, XRP, Litecoin, and other cryptocurrencies. eToro has raised $223 million since it was founded in 2007.