Popular trading platform eToro will be launching a cryptocurrency platform as they have been receiving a lot of interest in the fast emerging crypto market. Etoro’s Managing Director, Iqbal Gandham, gave an interview with NewsBTC to discuss what’s to look forward to in the next coming months.
“We are launching our crypto exchange and wallet soon. We’re looking at the exchange coming out within the next quarter, we’re looking at Q4. I feel the wallet release date will probably be towards the end of July, if not early August. The exchange will follow certain regulatory priorities which will happen in Gibraltar. It may get accelerated if Bitcoin’s price goes up to $20,000.”
The exchange will follow regulatory compliance in Gibraltar and is working on establishing licenses in the U.S. market. eToro also made recent crypto headlines when they announced they are setting up an OTC (over-the-counter) trading desk in London for institutional investors, including hedge funds and banks.
eToro will release their new cryptocurrency wallet by the end of August and aim to launch their cryptocurrency exchange by the end of the year. The exchange will offer 10 cryptocurrencies for trading including Bitcoin, Ethereum, Litecoin, Ripple, Dash, Bitcoin Cash, Stellar, Ethereum Classic, NEO, and EOS. The company said they will be introducing more cryptocurrencies in the near future.
After the exchange goes lives, users will be able to manually buy and sell cryptocurrencies, automatically copy the trades of other users to take advantage of other people’s experience, and use the eToro “Crypto CopyFund” to easily pick up a diversified portfolio of major crypto assets.
Etoro CEO Yoni Assia also spoke of the new crypto exchange at Consensus 2018 stating,
“Consumers all over the world should have access to the tools they need to participate in cryptocurrency markets, regardless of their expertise. We’re excited to make our platform available to US users, who have shown a strong enthusiasm for participating in these growing markets. Within the platform, our US users will find rich knowledge and insights into how to effectively trade and invest in cryptocurrencies.”