eToro, a multi-asset trading and investment platform, announced support for eight stablecoins that were going to be a part of its fully regulated cryptocurrency exchange, eTorox, on April 16.
According to the official announcement, the exchange would provide trading service for the top coins in the cryptocurrency market. This will include Bitcoin [BTC], Ethereum [ETH], XRP, Litecoin [LTC], DASH, and Bitcoin Cash [BCH]. More so, the exchange platform would have a total of 37 trading pairs for all the above-mentioned coins.
Notably, eTorox will also support eight stablecoins that are pegged to eight fiat currencies. This includes stablecoins that are backed 1:1 to Swiss Franc, United States Dollar, New Zealand Dollar, Pound Sterling, Canadian Dollar, Australian Dollar, and the Euro.
Mati Greenspan, a Senior Market Analyst at eToro, tweeted,
“We’re launching now 8 new stable coins, which are the most traded currencies in the world.” “We will continuously innovate @eTorox to add more features and more assets.” “Every person can now log in to http://etorox.com and try it out.”
Doron Rosenblum, the Managing Director of eTorox, said,
“We are proud to be one of the first companies in the world to obtain a license for cryptoassets, and one of only a handful of regulated exchanges in the crypto space. In the coming weeks and months we will add more cryptoassets, stablecoins and tokens to the exchange and will work with other exchanges to encourage them to list our growing range of stablecoins.”