eToroX, the blockchain division of global investment company eToro, has announced that it has added some more stablecoins to its crypto exchange offering, including:
- Two commodity-stablecoins – eToro Gold (GOLDX) and eToro Silver (SLVX),
- Two fiat-stablecoins – eToro Ruble (RUBX) and eToro Yuan (CNYX), and
- 17 pairs -USDEX-EURX, USDEX-GBPX, USDEX-JPYX, USDEX-CHFX, USDEX-AUDX, USDEX-NZDX, USDEX-CADX, USDEX-RUBX, USDEX-CNYX, EURX-GBPX, EURX-JPYX, EUR-CHF, EURX-AUDX, EURX-NZDX, EURX-CADX, GOLDX-USDEX and SLVX-USDEX – to its crypto exchange.
This is in addition to the existing 8 fiat-stablecoins (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), eToro Canadian Dollar (CADX), 5 cryptos (Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), BitcoinCash (BCH) and Litecoin (LTC) and 43 pairs including BTC-USD, XRP-GBP etc.
Yoni Assia
Commenting on the news, Yoni Assia, Co-founder and CEO of eToro, said:
The blockchain brings transparency and a new paradigm for asset ownership. We believe this is the future of finance and we’ll see the greatest transfer of wealth ever onto the blockchain.
One of the key obstacles that cryptoassets need to overcome for mainstream adoption is price stability. Stablecoins largely eliminate this hurdle, creating a more user-friendly way to interact with the blockchain. By adding eToro Gold and eToro Silver and expanding our fiat-stablecoin range to 10, we are demonstrating the vast potential offered by tokenized assets.
The 2 commodity-stablecoins and 10 fiat-stablecoins are all ERC20 tokens.
Doron Rosenblum
Doron Rosenblum, Managing Director of eToroX, commented:
The addition of these fiat pairs means that people can now trade FX 24/7 as well as traditional assets such as gold and silver. We are continuing to open up markets and this step allows people for the first time to trade, hedge and close exposure whenever they want.
The addition of 17 pairs and 4 assets to our exchange less than a month since we launched shows the commitment to grow our exchange and the huge possibilities offered by the blockchain. We don’t want to just add established cryptoassets. We want to push the boundaries and continue to innovate.
eToroX, a subsidiary of eToro Group, launched in April 2019 and is one of the first companies to be certified as a regulated Distributed Ledger Technology (DLT) provider by the Gibraltar Financial Services Commission (GFSC).