Moving Fast Is Necessary to Survive in Crypto Market, Says eToroX's Managing Director

Doron Rosenblum, the managing director of eToroX, the blockchain division of the global investment company eToro, has recently revealed he believes moving fast is a necessity to survive in the crypto space, more so than in the traditional financial system.

During an interview with CryptoGlobe, Rosenblum noted that eToro’s founder and CEO, Yoni Assia, has been a crypto supporter for a long time, and that he sees cryptocurrencies like bitcoin change the financial world in the future.

While eToro itself added support for buying and selling cryptocurrencies back in 2014, the firm decided to launch eToroX because it was it needed to “set up a special task force just for blockchain and crypto.”

Behind the company’s creation were two main reasons: regulations and internal organizational reasons. Rosenblum clarified eToro itself is a heavily regulated trading platform, but that when it comes to blockchain technology and cryptocurrencies some regulators are still figuring out their approach.

As a result, eToroX is regulated in Gibraltar, a small territory that’s been having a forward-thinking approach when it comes to distributed ledger technology (DLT) and cryptocurrencies. The Gibraltar Blockchain Exchange (GBX), a subsidiary of the Gibraltar Stock Exchange, is fully licensed, for example.

eToro’s organizational reasons to launch eToroX for blockchain and cryptocurrencies revolved around speed. Rosenblum stated:

We decided we need to have a small team that will move fast and that will be self-sufficient. The big departments of eToro – marketing, finance- regulation, etc. – are part of a big company. To move as fast as this market demands, we need a fast-moving team. We’re 70 people [on eToroX].

He added that eToroX’s current structure allows the firm to move as fast as it needs to, and that he believes that to “survive in this market” firms need to be “moving fast.”

The Future of Tokenization

Responding to a question on eToroX’s approach to tokenization, Rosenblum revealed the firm believes tokenization is a concept that’s “going to be a big thing over the next few years,” as it can be applied to any asset in the world.

Basically you can take everything, as long as there’s an agreement with the owners, and there are ways to hedge or peg the token to the value of the underlying asset [and tokenize it]. You can do great things with this, and gives access to people who would otherwise not have access.

As an example, he revealed almost anyone will be able to own a piece of an expensive art piece thanks to tokenization, meaning paintings that would cost hundreds of millions will be accessible to any investor, as the painting itself can be tokenized.

In the future, he added, eToroX will be adding “more and more tokens” as essentially anything will be tradeable. The firm’s managing director noted he believes they have the “right tools and skills” to approach the challenge.

Moreover, he added eToroX plans to become one of the biggest exchanges in the world “within the next 12 to 18 months.” It’s worth noting that eToro itself has late last year launched a cryptocurrency wallet.

Opera Launches Blockchain, Cryptocurrency-Ready Browser for iOS

Opera Ltd., the company behind the Opera browser, has recently launched a new blockchain and cryptocurrency-ready browser for iOS, following the company’s addition of a built-in cryptocurrency wallet to its Android and PC browsers.

According to a press release shared with CryptoGlobe, the company’s Opera Touch browser for iOS features “crypto wallet integration and Web 3 support,” meaning users can interact with blockchain-based applications through it, as if they were using an extension like MetaMask. The company hinted at the move in March of this year.

The company touts it now offers browsers supporting blockchain-based applications and with a built-in cryptocurrency wallet in various operating systems, including Windows, Mac, Linux, Android, and iOS, allowing users to “seamlessly interact with the next generation of Web 3 applications.”

Currently, the browser only supports ERC-20 tokens, stablecoins, and non-fungible tokens, although the company has revealed earlier this year it’s looking to add support for TRON and multiple other blockchains within a  year.

Charles Hamel, Opera’s head of crypto, stated:

We believe that all modern browsers should integrate a crypto wallet. This will enable new business models to emerge on the web. Opera is the first browser to make using crypto on the Web seamless and easy. Following a strong demand from the crypto-community, we are now making this experience available on iOS.

In the press release the company added it believes the “web of today will be the interface to the decentralized web of tomorrow,” with cryptocurrencies being at its forefront. Along with the iOS release, the company announced it partnered with a decentralized-application (dApp) called Marble.Cards, which allows users to turn unique web pages into collectible cards on the blockchain, each being a non-fungible token.

The Opera touch browser itself has a user interface built to let users use large phone screens with ease, as it shifts the navigation towards the bottom of the screen and adds features that make it easy to share pages across devices.

Opera’s main Android browser is also its cryptocurrency-ready browser for the operating system, and it has made it easier for users to buy cryptocurrencies directly from their mobile phones.