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eToroX adds five Ethereum tokens to its wallet, 115 more tokens to follow

eToro.Marco Verch Professional Photographer and Speaker/Flickr

Thu, 04 Jul 2019, 09:14 am UTC

eToroX, the blockchain division of global investment company eToro, has announced that it adding support for 120 ERC-20 tokens to its multi-crypto, on-chain wallet.

In an online post dated June 24, the company said that the first phase was already live, adding that the support for Maker (MKR), Basic Attention Token (BAT), and OmiseGO (OMG) has already been added.

Included in the new offerings are stablecoins offered by eToro itself called eToro EuroX (EURX) and eToro US DollarX (USDX). As eToroX Managing Director Doro Rosenblum himself said, the addition of these new tokens is proof of the platform's vision regarding digitized assets.

“Adding 120 ERC-20 tokens to the eToro wallet is further evidence of our belief that one day all investable assets will be tokenized,” Rosenblum said (as quoted by TheNextWeb).

“One of the main barriers to mass adoption of crypto assets is lack of access. Making these first 5 tokens available enables more people to transfer and hold them into a secure and regulated wallet. The next step will be adding more ERC-20 tokens to our exchange, which we plan to do in the near future.”

Back in April, eToroX launched its cryptocurrency exchange and announced eight stablecoins. Even then, eToro CEO Yoni Assia already expressed his sentiments with regards to how tokenization could eventually become a monster in the financial field.

“Just as eToro has opened up traditional markets for investors, we want to do the same in the tokenized world. […] Blockchain will eventually ‘eat’ traditional financial services through tokenization,” Assia said.

For the most part, this is a completely predictable move on any trading platform’s part due to the rise in public interest with regards to tokenization, cryptocurrency, and blockchain. eToro is simply getting ahead of the curve just as it did when it decided to allow for bitcoin trading all the way back in 2014.

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