The blockchain subordinate company of globally leading social trading and investing platform eToro called eToroX announced that it had added 5 Ethereum tokens to the eToro wallet. It is just the first series out of the total 120 Ethereum standard tokens that the firm plans to add to their wallet. Thus, the launch of the remaining 115 is slated to follow soon in the future.
The first 5 tokens which have been launched are BAT (Basic Attention Token), MKR (Maker), OMG (OmiseGO), eToro USDX (US DollarX), and eToro EURX (EuroX). The last two tokens of the five listed are stablecoins of eToro.
The update was shared with the crypto community by eToroX through their official Twitter handle on 2nd July
Doron Rosenblum who holds the position of Managing Director at eToroX, the number 2 out of the 7 most reliable crypto exchanges across the world, commentated saying that including 120 tokens of ERC-20 standard to their eToro wallet is a proof of the firm’s belief that all the investable assets would be tokenized one day. Continuing further, he said that the absence of access is one among the prime barriers hindering the crypto assets’ mass adoption. But as they’ve made available the first wave of tokens, it will provide a means to more number of people when it comes to holding as well as transferring the assets in a regulated and secured wallet, he added.
For beginners in the crypto space, ERC-20 tokens are the tokens solely utilized on the blockchain network of Ethereum. In order to be exchanged, shared for other crypto assets or to be transferred to any crypto wallet, these tokens must comply to pre-determined rules. Although to know about the crypto wallets in detail, you can read more here.
The eToro wallet, available on both the App Store and Google Play, is built and run by eToroX, which is regulated by GFSC (Gibraltar Financial Services Commission). eToroX, with its easy-to-use and customizable UI, provides users with a variety of crypto trading pairs and tokenized fiat currencies for increased diversification. In the month of April, eToroX was in the news as it introduced a digital currency exchange coupled with eight stablecoins of eToro-brand.