eToro, the social finance platform is launching a crypto exchange and mobile wallet and will expand it into the U.S.
Announced this Tuesday, the Israeli based company has opened it’s waiting list for US residents who want to trade in cryptocurrency.
CEO Yoni Assia said in a press release that
“Consumers all over the world should have access to the tools they need to participate in cryptocurrency markets, regardless of their expertise.”
Before, eToro offered crypto trading only on a very limited basis. For example, in 2014 they introduced contracts for difference (CFDs) in which users could bet on the direction of bitcoin’s price without actually investing in the cryptocurrency.
Early last year, eToro finally allowed users to shop for or sell XRP (Ripple), ether and litecoin on their platform, however, it failed to enable them to deposit or withdraw cryptocurrencies from their accounts, as per eToro’s terms and conditions.
This year, eToro plans to launch a true cryptocurrency exchange, plus a corresponding mobile wallet, sometime in 2018. The new exchange will also have bonus over-the-counter trading options for institutional investors.
Founded in 2007. eToro has 10 million users from 140 countries, from China and Russia to Switzerland and the United Kingdom.
Guy Hirsch, eToro’s U.S. managing director said of the move:
“I believe those will come onto the blockchain. And eToro plans to be a leader in propelling that vision into a reality.”