Finovate Alumni News

On Finovate.com

  • HSBC Creates Private Banking Portal with Finantix
  • Trulioo Can Now Verify Customers in 4 New Countries
  • AI Foundry Adds Mortgage Document Modeling to its Automation Platform
  • HiddenLevers and First Rate to Improve Risk Analytics for Wealth Managers
  • DemystData Signs Two Year Agreement with Kyckr
  • YSEOP Garners $9.3 Million in New Funding Round

Around the web

  • Xceptor appoints former GBST exec as new COO.
  • eToro has launched a portfolio of firms involved in Facebook’s new digital currency Libra.
  • Jumio to power digital identity for Brazil-based BTG Pactual.
  • Settle launches its mobile payments app in Croatia.
  • Worldpay and the University of Cincinnati partner to fill business talent shortfall.
  • Coast Capital Savings teams with OnDeck to offer small business members financing options.
  • Scooter fleet company Spin joins Passport’s micro-mobility pilot program.
  • First Rate and HiddenLevers partner to provide risk analytics and business intelligence to the wealth management industry.
  • BeSmartee announces direct integration with private mortgage insurance provider Arch MI.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • AIFC and Fidor Solutions to Boost Fintechs in Kazakhstan.
  • Visa and PayPal’s New Deal.

Around the web

  • Apex Clearing partners with Apex Crypto to launch cryptocurrency platform that helps financial advisors introduce digital currency trading into their clients’ portfolios.
  • Revolut taps banking veteran Richard Davies as Chief Operating Officer.
  • Klarna and BigCommerce expand partnership to also include Klarna’s European core markets.
  • eToro’s cryptocurrency wallet adds support for 120 ERC-20 standard tokens.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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.

Finovate Alumni News

On Finovate.com

  • eToro’s eToroX Unveils Cryptocurrency Exchange.
  • CardFlight Expands to Offer Payment Terminal Hardware.

Around the web

  • Klarna launches Mindful Money, a financial management content hub for consumers.
  • Avaloq launches avaloq.one, a collaborative platform to help financial services companies work with fintechs.
  • NICE unveils IntelliAgent, a solution that provides employees with real-time compliance and authentication capabilities.
  • Kantox appoints Maria Chamorro as its new Chief Financial Officer.
  • Trulioo adds Malta to its Global Identity Verification coverage.
  • ieDigital shortlisted for Excellence in Open Banking and Best Rebrand awards at the Credit Awards 2019.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • The ID Co. Unveils its Income Verification Solution.
  • Finicity Partners with Pulte Mortgage to Accelerate Asset Verification.

Around the web

  • CBANC hires Mike Snavely as Chief Commercial Officer.
  • Congrats to 3rd Eyes, ArthaYantra, aixigo, BaseVenture, Capitalise, Entersekt, eToro, Finantix, Fincite, Finhorizon, ForwardLane, Hydrogen, Scalable Capital, Sentifi, Tradeit, Trizic, WealthWizards, WealthForge, and Xignite on being recognized in the Wealthtech 100.
    • Xero’s new invoicing experience available for all Xero customers and partners over the next two weeks
    • Nordigen opens new office in Spain to expand operations.
    • Yseop’s AI solution for Société Générale wins award for most innovative initiative of the year at this year’s Digital Finance Awards. Come see Yseop at FinovateSpring next month.
    • Contovista and NDGIT expand partnership, enabling Contovista to be implemented via the German NDGIT API marketplace.

    This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

    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.

    Finovate Alumni News

    On Finovate.com

    • eToro Buys Blockchain Company Firmo.

    Around the web

    • ING Belgium and ING Netherlands invite Minna Technologies to participate in the ING FinTech Village accelerator.
    • Tink delivers split transactions feature.
    • Pitchbook ranks OurCrowd as most active Israeli VC firm in terms of the number of deals.

    This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

    Finovate Alumni News

    On Finovate.com

    • Alternative Data Platform Thinknum Raises $11.6 Million.
    • SigFig Appoints Anne Morrissey as its First CFO.

    Around the web

    • Modo taps Matt McBride as its new Chief Information Security Officer.
    • eToro to end commissions for U.K. customers trading on its platform.
    • Avaloq joins Enterprise Ethereum Alliance.
    • Kofax launches its Robotic Process Automation (RPA) 10.4 solution.
    • Vymo wins FICCI (The Federation of Indian Chambers of Commerce) Award for Innovation in Artificial Intelligence and Data Analytics.
    • TurnKey Lender opens new office in Malaysian capital, Kuala Lumpur.

    This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

    “Hello USA!” eToro Goes Live in America

    eToro is taking its social trading platform and cryptocurrency wallet to the States.

    “For the first time, Americans can collaborate with other crypto traders when making buying and selling decisions,” eToro CEO Yoni Assia said. “Users can adjust their trading strategies by watching and learning from others on the platform.”

    The company, a six-time Finovate Best of Show winner, demonstrated its CopyFunds for Partners technology at FinovateEurope 2017. Now known as CopyPortfolios, the solution enables investors to own a group of assets, aggregated based on specific market strategies. For the U.S. launch, three cryptoasset CopyPortfolios will be available initially.

    eToro’s U.S. launch will enable customers in 32 states to trade and invest in six cryptocurrencies: BTC, ETH, LTC, BCH, XRO, and XLM. Additional cryptocurrencies are expected in the new future, with as many as 13 different digital assets and multi-asset trading enabled by the first quarter of 2020.

    Left to right: Tal Ben-Simon (VP of Product) and Yoni Assia (CEO & Founder) demonstrating social trading technology at FinovateEurope 2017.

    eToro customers can access the wallet feature from their existing eToro accounts, and transferring coins from trading accounts to the wallet is just a one-click process. Users can also securely send and receive cryptoassets via QR code or by sharing their wallet address.

    “(eToro) acts as a bridge between the old world of investing and a blockchain-powered future, helping our users navigate and benefit from the transition to cryptoassets for wealth building,” Assia said. “People create the eToro experience and now Americans will play a major role in shaping our community and future.”

    With more than 10 million registered users, eToro enables traders and investors to leverage the insights of top traders in the community to make better decisions in the financial markets. The platform supports a wide range of assets, from stocks and ETFs, to currencies, indicies, and commodities – including cryptocurrencies.

    eToro makes it easy for traders to follow the best performing traders with its CopyTrader technology, and gives eligible winning traders the opportunity to earn as much as 2% annually on their assets as part of eToro’s Popular Investor Program.

    Founded in 2007 and headquartered in Tel Aviv, Israel, eToro has raised $222.7 million in funding. The company includes Spark Capital, Social Leverage, BRM Capital, Cubit Investments, and CommerzVentures GmbH among its investors.

    Finovate Alumni News

    On Finovate.com

    • GreenKey Technologies Secures Strategic Investment from IPC.
    • “Hello USA!” eToro Goes Live in America.

    Around the web

    • Russia’s Alfa-Bank joins Marco Polo Network to offer blockchain-based trade and supply chain finance services to its clients.
    • Credit and business information systems specialist CRIF acquires majority stake in digital identity firm Inventia.
    • Klarna partners with Canadian e-commerce and in-store point-of-sale financing specialist PayBright.
    • Ping Identity wins Best Identity Management Solution at the 2019 SC Awards.
    • Arcanum Technology named a finalist in the competition for a spot in the TAG FinTech Innovation Challenge’s 2019 class.
    • Avaloq joins the Enterprise Ethereum Alliance (EEA).

    This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.