eToro Crypto Trading Platform Unveils New GoodDollar Blockchain Social Project
The cryptocurrency trading platform eToro has announced a new blockchain-related project known as GoodDollar. The main intention is to tackle global wealth inequality. The information was released in a press release on November 7.
The new project was presented during the week at the Web Summit held in Lisbon, Portugal. In order to start working on the project, the company invested $1 million dollars. At the same time, eToro is searching for new partners that would help with the initiative.
As mentioned before, the goal is to create economic tools for those unbanked individuals all over the world. eToro will be creating a new cryptocurrency that will be ‘non-speculative,’ and that will reduce wealth inequality on a global scale. Moreover, the intention is to connect the virtual currency to an identity, creating an even more transparent project.
eToro has many different virtual currencies on its platform and it allows people from all over the world to trade their favorite cryptocurrencies. eToro does not only offer the most traditional virtual currencies but it also supports other currencies such as Binance Coin (BNB).
The cryptocurrency platform has also recently announced the launching of its own virtual currency wallet. The information was released by eToro a few days ago. The eToro wallet is a mobile application that is available both for Google Play and Apple’s App Store. The company decided to focus on user-friendliness and a clear interface.
— eToro (@eToro) November 7, 2018
On the matter, Yoni Assia, CEO of eToro commented:
“We believe that crypto and blockchain technology that underpins it will have a huge impact on global finance. Blockchain has the potential to revolutionise finance and we believe that we will see the greatest transfer of wealth ever onto the blockchain.”
At the same time, he explained that in the future, all assets will be tokenized and that virtual currencies are just the first step into this direction.
Users will have the possibility to store different virtual currencies, including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) and Litecoin (LTC). However, in the future, the number of coins supported by the wallet will also increase. At the moment, only those Platinum Club members for Bitcoin will be able to transfer cryptocurrencies from eToro’s platform to the virtual currency wallet launched by the company. These members are those trading more than $25,000 dollars each month.
According to Assia, eToro will be adding new functionalities that will include support for new crypto and fiat tokens, crypto to crypto conversion and the ability to deposit fiat funds.
eToro is a global investment platform that has over 10 million registered users and has been operating in the market during the last years. A few weeks ago, eToro decided to add support to BNB. In this way, it became the best trading platform to do so excluding Binance.