Investing Platform eToro Launches in US, Plans Gibraltar Expansion

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Investment platform eToro has announced on Tuesday that it will launch a cryptocurrency offering in the U.S.

The platform’s launch will initially enable US-based users to invest in 10 cryptocurrencies, with more set to be added throughout 2018. eToro users will also be given access to a community feed and tools that allow them to engage in conversations about cryptocurrencies and follow the investment strategies of other US users, a statement said.

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Since launching in 2007, eToro has established more than 10 million registered users throughout 140 countries, including the UK, Australia, Germany, Switzerland and France. In 2009, the company launched a multi-asset investment platform and has since gained more than USD 162 million in capital funding and enabled its services on mobile devices.

“We’re excited to make our platform available to US users, who have shown a strong enthusiasm for participating in these growing markets,” said Yoni Assia, CEO and co-founder of eToro. “Within the platform, our US users will find rich knowledge and insights into how to effectively trade and invest in cryptocurrencies.”

As of May 15, 2018, US users can now visit eToro.com to join the waiting list for the platform. The 10 cryptocurrencies that will be initially available are: Bitcoin, Ethereum, Litecoin, XRP, Dash, Bitcoin Cash, Stellar, Ethereum Classic, NEO and EOS. eToro said it intends to integrate several more cryptocurrencies throughout 2018.

The platform will offer US investors three ways to access the crypto markets: by manually investing in a coin; by automatically copying the trades of other traders on the platform to benefit from their knowledge and investment expertise; or by investing in a Crypto CopyFund which provides a diversified portfolio of major crypto assets.

In Gibraltar last week, the eToro management team shared their exciting plans to expand their business into the British Overseas Territory, which they stated were at an advanced stage. The company said that the decision was taken as a result of Gibraltar’s favorable distributed ledger technology (DLT) regulatory framework and regulations that came into force in January 2018.

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