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

Basic Attention Token Will Be Listed on Crypto Exchange Gemini Later This Month

Digital asset exchange Gemini, which was founded in 2014 by the famous Winklevoss twins, announced on Monday (April 6) that it will soon be adding support for the trading of Basic Attention Token (BAT).

In a blog post published earlier today, Gemini said it will be allowing of BAT deposits into Gemini accounts starting at 09:30 Easter Time (or 13:30 UTC) on 24 April 2020, and mentioned that trading would "follow soon thereafter."

Here is how Gemini describes BAT:

"Basic Attention Token is the native currency token of the Brave Browser, which is built to provide a more efficient and effective mechanism for connecting and rewarding users, advertisers, and publishers.

"Brave blocks unsolicited ads and tracking by default and rewards users with BAT payments when they opt-in to view ads.

"Users can then directly or indirectly contribute BAT to the sites they visit while enjoying a faster, more secure browsing experience, all of which is accomplished without revealing a user’s browsing history or preferences.

"Brave and BAT were created by Brendan Eich, who developed the Javascript programming language and also is a co-founder of Mozilla."

This is the first time that Gemini is adding support for a new digital asset since December 2018 (when it listed Bitcoin Cash), and this move by Gemini will bring the total number of cryptoassets it supports to six (the others are Btcoin, Ether, Bitcoin Cash, Litecoin, and Zcash).

Gemini pointed out that "BAT deposits to existing Gemini Ethereum addresses are not supported", and that instead, in order to deposit BAT, "you must first create a new Ethereum deposit address by logging into Gemini and going to the Transfer page."