Delta Acquired by EToro
eToro Acquires Delta, There has been a new acquisition in the blockchain market. It was revealed today that Delta, the blockchain portfolio tracker application, has been purchased by EToro. Delta is known for providing effective results regarding the prices, alert systems and market charts. Neither Delta nor EToro released the purchasing cost. However, insiders close with both companies told TechCrunch that this deal cost EToro $5 Million.
The Chief Executive Officer and Co-Founder of EToro, Yoni Assia, spoke on the recent acquisition. His comments reflected that their goal is to accelerate cryptocurrency growth through retail and online products. Yoni also noted that this isn’t the last acquisition EToro will make before years end. Unfortunately, it’s not known what other companies this firm is interested in acquiring.
The official statement made by Assia reads: “We are a trading and investing platform that provides clients with access to the assets they want. From commission-free stocks and ETFs through to FX, commodities and crypto-assets. We also let customers choose how they invest. They can trade directly, copy another trader or invest in a portfolio. At a time when other fintech’s state that they are not even targeting profitability, we are proud to be a well-funded, profitable business. We are growing both in terms of geographical coverage but also product range.”
The Delta Application
The Delta Cryptocurrency Application became operational in 2017, bursting onto the market with numerous investors supporting their services. This application acts as a cryptocurrency portfolio tracker, with its exchange maintaining more than six thousand cryptocurrency assets. These assets are managed through 180 other transactions and renew a paid subscription for those requiring premium features. This new acquisition of Delta means that they will work with EToroX as an independent subsidiary. Delta will assist EToro with the development of new social services on their network. The Chief Executive Officer and Co-Founder of Delta have emphasized that their services will integrate seamlessly onto EToro’s exchange.
Most aren’t aware that EToro created a subsidiary named “EToroX”. This subsidiary was established to assist their parent company with blockchain development. EToroX has responsibilities that extend to creating new cryptocurrency assets and managing the parent companies’ digital wallet. Shockingly, EToro announced this acquisition, as it was only a few weeks ago that their new product “CopyTrader” was released in the United States. This blockchain firm wants to expand its services in this region.
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