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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.