eToro’s New Crypto Exchange eToroX Opens with 8 Stablecoins; USDEX, JPYX, EURX to Name a Few

eToroX, the blockchain subsidiary of eToro, has decided to launch a new cryptocurrency exchange. The new platform will have eight branded stablecoins as well. eToroX is regulated by the Gibraltar Financial Services Commission.

eToro Launches New Crypto Exchange

The first six virtual currencies offered by the exchange will be Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), XRP, Litecoin (LTC) and also Dash (DASH). There will also be 37 different crypto-to-fiat trading pairs.

eToro will be launching eight different stablecoins that will be pegged to different fiat currencies, including the USD (USDEX), the Japanese yen (JPYX), and Euro (EURX), among others. The stablecoins will include pounds Sterling, Australian, Canadian and New Zealand dollars and Swiss franc.

The main intention is to keep expanding and also include new coins and stablecoins in the market. Doron Rosenblum, eToroX managing director, explained that the firm will also be working with other crypto exchanges in order to encourage them to add the stablecoins.

On the matter, Yoni Assia, the CEO and co-Founder of eToro, commented:

“Just as eToro has opened up traditional markets for investors, we want to do the same in the tokenized world. Blockchain will eventually “eat” traditional financial services through tokenization.”

Moreover, Assia believes that tokenization will lead to a great transfer of wealth from the traditional financial world to the blockchain. eToro has also recently launched a crypto buying and selling platform and wallet that is available in the United States.

eToro is one of the most popular trading platforms for users to buy and sell cryptocurrencies and other traditional assets. One of the most popular features present in eToro is the fact that newcomers and inexperienced users can copy the trading strategies that larger and expert traders have.