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eToro, a brokerage firm for social and multi-asset assets with offices in Israel, Cyprus and the United Kingdom, plans to launch its own firm.
When asked if eToro would release his own movie (at the Magnates London Summit of Finance Magnates), Yoni Assia, the CEO of eToro, said confidently: "Absolutely, yes!"
Founded in 2006 and established for the first time in Tel Aviv, eToro (formerly known as RetailFX) seems to be aggressively expanding its operations.
eToro launches a new cryptographic wallet
As CryptoGlobe recently reported, eToro launched its own cryptocurrency portfolio, which is currently available to users in all EU member states, Gibraltar and Switzerland. The company will also allow cryptography to cryptography conversions in the near future.
On November 7, eToro announced that it would launch a social project enabled by blockchain, which involves the development of a "non-speculative" digital currency.
According to the eToro announcement, your new currency will be based in some way on the idea of universal basic income (UBI), which is a type of program in which the residents of a country can receive a regular sum of money from a source like the government. [UBI is] A pure or unconditional basic income, [and] it is automatically distributed to all citizens without the requirement to notify changes in the financial status of citizens. "
A coin for those who "have less"
Although eToro's new currency project does not appear to be identical to the classic UBI model, it is based on similar concepts. Specifically, eToro's cryptocurrency will aim to pay social interests to the less fortunate, or those who "have less."
In particular, eToro revealed its plans to launch this new type of cryptography to a large audience at the Web Summit held in Lisbon, Portugal (on November 7). The multi-asset trading service provider has called the GoodDollar project its social initiative.
eToro has also invested $ 1 million in the GoodDollar project, and is actively seeking more investors to participate in the development of its currency for social good.
Many cases of potential use for Stablecoins
Although it is not clear at this time if eToro's electronic block project will be related to the company's GoodDollar project, the social commerce platform would join a growing list of companies that have launched or plan to launch their firm launch.
As CryptoGlobe reported, the CEO of Coinjar Exchange, Asher Tan, has said that scams have the potential to serve a useful purpose in many different types of cryptographic businesses. Tan revealed that there are now many professionals with experience in the traditional financial market who are interested in scams.