Gold & Silver StableCoins added to eToroX
EToroX, a subsidiary crypto-division of the global investment company “eToro” has revealed that they’ve added new StableCoins to their crypto exchange. The two most notable coins that were added include GoldX and SilverX, which means that clients of this exchange will now be able to trade with precious virtual metals.
The other StableCoins added into eToroX include:
- eToro Yuan
- eToro Ruble
- GoldX-USDEX
- SilverX-USDEX
There is now a total of forty-three different StableCoins available on the eToro exchange. EToro has built StableCoins for the New Zealand, American, Australia and Canadian Dollar. They’ve also created coins for the Euro and British Pound. Players can also trade in Bitcoin, Ripple, LiteCoin, Ethereum and BTC.
Commenting on the news, Yoni Assia, Co-founder and CEO of eToro, said:
Both the Co-Founder and the Managing Director at eToro commented on this announcement. The first to comment was -Founder, Yoni Assia. He said: “The blockchain brings transparency and a new paradigm for asset ownership. We believe this is the future of finance and we’ll see the greatest transfer of wealth ever onto the blockchain.”
Yoni Assia continued his statement by saying: “One of the key obstacles that crypto assets need to overcome for mainstream adoption is price stability. Stablecoins largely eliminate this hurdle, creating a more user-friendly way to interact with the blockchain. By adding eToro Gold and eToro Silver and expanding our fiat-StableCoin range to 10, we are demonstrating the vast potential offered by tokenized assets. The two commodity StableCoins and ten fiat StableCoins are all ERC20 tokens.”
Doron Rosenblum, Managing Director of eToroX, commented:
“The addition of these fiat pairs means that people can now trade FX 24/7 as well as traditional assets such as gold and silver. We are continuing to open up markets, and this step allows people for the first time to trade, hedge and close exposure whenever they want. The addition of 17 pairs and four assets to our exchange less than a month since we launched shows the commitment to grow our exchange and the huge possibilities offered by the blockchain. We don’t want to add established crypto assets. We want to push the boundaries and continue to innovate.”
EToroX only launched their services as a subsidiary of eToro back in April 2019. They’ve already become famous in the crypto market space due to being one of the first to receive a DLT & GFSC (The Distributed Ledger Technology & Gibraltar Financial Service Commission license). This means that eToroX can legally provide it’s crypto services to clients.