Social trading and digital asset brokerage firm eToro has announced it is set to enter the US with its proprietary cryptocurrency trading services. Users in the US will be able to trade Bitcoin, Bitcoin Cash, Ethereum, Ripple, EOS, Ethereum Classic, Litecoin, and a few other cryptos.
The multinational company, founded in 2006, has its headquarters in Tel Aviv, Limassol, and London. Its US operations will initially see it provide users demo trading software. There is already a waiting list for customers who are interested in using eToro’s services.
The company’s platform is set to launch in the US, along with a full-fledged cryptocurrency exchange and mobile wallet, sometime later this year, under the guidance of the company’s newly appointed US Managing Director, Guy Hirsch. He stated:
"eToro empowers investors with a platform that gives them access to the assets they want, shared knowledge and ease of transaction."
According to eToro’s management team, the company plans to support more cryptocurrencies later on. eToro’s CEO Yoni Assia stated:
“eToro is one of the leading online brokers that combines multiple asset classes. We see tremendous opportunities in the US crypto space. We believe that an expansion into the US is only a natural next step for our company.”
The trading platform has been working cooperatively with regulatory bodies throughout the world in order to ensure consumer safety. At present, a comprehensive regulatory framework for cryptocurrencies has not yet been developed, although US regulators such as the Securities and Exchange Commission (SEC) are actively working on drafting such regulations.
eToro is taking on a big challenge by introducing its crypto services to US customers. Commenting on it, Assia stated that his company has adequate resources “and the passion to execute” its plans.