eToro launches new cryptocurrency exchange in Gibraltar

Last week eToro announced the full launch of its cryptocurrency exchange, eToroX, which will support trading in six cryptocurrencies – BTC, BCH, ETH, XRP, LTC and DASH. It also announced 8 new tokenised assets centred around Pounds Sterling, Euros, United States Dollars, Japanese Yen, Australian Dollars, Canadian Dollars and New Zealand Dollars.

eToroX is regulated by the Gibraltar Financial Services Commission having obtained its DLT Provider’s Licence towards the end of 2018.

eToro CEO and co-founder, Yoni Assia, “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.”

Our FinTech team led by Anthony Provasoli, together with Latham & Watkins led by Stuart Davis, advised eToro on the structuring and issuance of its new product. We at Hassans are excited to see the full launch of eToroX and we look forward to its continued growth within Gibraltar’s regulated environment.