ETORO CEO of Blockchain launch after his first year appearing star-news.press/wp

In a recent interview with Fortune, Yoni Assia, CEO of Etoro (ETOR), participated in the company’s interest in developing its Blockchain. This exploration comes at a time when online mediation, which was published on the Nasdaq Stock Exchange in May, comes partnerships with various Blockchain ecosystem.

Etoro reveals plans to develop a potential Blockchain

Assia Mentioned Etoro is in discussions with various platforms “four or five”, although it has not been revealed specific names. He emphasized that any Blockchain launch is not immediate, but he indicated that a side chain – on a small basis of lightweight Blockchain designed on top of another – can be an applicable solution for its operations.

ASSIA highlighted the current Blockchains restrictions, saying: “Today we cannot run millions of transactions that we treat on a monthly basis on the current Blockchains.”

The CEO believes that the dedicated Blockchain is essential to support the entire ETORO ecosuction system and absorb the base of users and the size of transactions.

The timing of Assia’s comments coincided with Etoro’s announcement of its plans to introduce symbolic shares on Ethereum blockchain. The distinctive symbol indicates the process of converting traditional stocks into digital assets that can be traded more efficiently on Blockchain.

This new feature will allow users to trading symbolic stock around the clock throughout the week, with a preliminary offer of 100 famous American companies and traded boxes (ETFS). Currently, access to these Blockchain assets will only be available to European users on the basis of the waiting list.

Erc20 symbolic shares for American companies

Bloomberg as well I mentioned Etoro aims to launch symbolic versions of shares listed in the United States, allowing circulatory trading. The assets will be released as ERC20 symbols on ETHEREUM, allowing users to transfer distinctive stocks between Etoro Digital portfolios. The platform will initially support trading around the clock throughout the week, which expands access to these assets for users.

“This is really the beginning of digital assets and assets in the real world,” Assia said during a recent online symposium. He expressed his enthusiasm to integrate the services of Etoro’s encryption with Stock trading The environment, create a smooth experience for customers who deal in both cryptocurrencies and traditional stocks.

This strategic step follows a similar initiative by Robinhood Markets Inc. (Hood), which has announced plans to provide a symbol of US Securities to its European customers.

However, the Robinhood Declaration faced doubts from the organizers, especially because of its association with an Openai “symbol” that was later clarified as derivative contracts instead of actual property rights.

As of Tuesday, Etoro, ETOR shares, decreased by 4 %, and closed at $ 60 per share. This decrease represents a 24 % gap of its standard peak of $ 79 reached on June 10.

Distinctive image from Dall-E, Chart from TradingView.com

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