eToro Launches New Crypto Exchange eToroX Along With Eight Fiat Stablecoins

Avi Rosten

On Tuesday (April 16), social investing platform eToro launched a new fully-regulated digital asset exchange at the Paris Blockchain Week Summit.

The etoroX exchange will support a total of 16 cryptoassets: eight new fiat-collateralized stablecoins, six of the most popular cryptocurrencies, and two metal-backed (silver and gold) stablecoins.

The six major cryptocurrencies eToroX is launching with are Bitcoin (BTC), Ether  (ETH), XRP, Dash (DASH), Bitcoin Cash (BCH), and Litecoin (LTC).

The eight fiat stablecoins are branded with the exchange’s name and currently include the 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), and eToro Canadian Dollar (CADX).

There are a total of 37 crypto-fiat trading pairs:

eToroX 37 Crypto Pairs Screenshot.PNG

Regulated by the Gibraltar Financial Services Commission, the exchange explains that it is looking to add more stablecoins, cryptoassets and tokens in the “coming weeks.”

Commenting on the launch, eToro CEO Yoni Assia explained how he believes blockchain-based assets will shape the future:

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. This is the future of finance. Blockchain will eventually 'eat' traditional financial services through tokenization.

Assia further explained the bright future he and his company envision for the next decade of crypto:

eToro’s trading platform and wallet service launched in United States last month, serving customers from 32 U.S. states and allows for trades in 13 cryptoassets.

All Images Courtesy of eToro