Trading Giant eToro to Launch Crypto Exchange, Competing Against Major Platforms

2018-7-8 15:00

Social trading network eToro will release their crypto wallet by next month ahead of their exchange launch set for Q4 2018. In an interview with NewsBTC, the Managing Director said they have had a lot of interest from family offices regarding their new crypto trading desk.

eToro: U.S. is a “Phenomenal Market”

The Managing Director of eToro, Iqbal Gandham, told NewsBTC that they are launching their crypto wallet by August before they launch their crypto exchange planned for Q4 2018. The exchange will follow regulatory compliance in Gibraltar which need to be finalized. Gandham said:

“We are launching our crypto exchange and wallet soon. We’re looking at the exchange coming out within the next quarter, we’re looking at Q4. I feel the wallet release date will probably be towards the end of July, if not early August. The exchange will follow certain regulatory priorities which will happen in Gibraltar. It may get accelerated if Bitcoin’s price goes up to $20,000.”

The Managing Director said that eToro is expanding into the U.S. and have started going through regulatory processes to establish licences. He said that the U.S. is a ‘phenomenal market for crypto assets.’

eToro recently announced that they are setting up an over the counter (OTC) trading desk in London for institutional investors, including hedge funds and banks. He said that it may be ready by the end of the year. This is set against Coinbase who launched their custody service on July 2 which has already attracted $100 million in assets. Gandham added:

“We’re putting together the internal processes. I feel if we dot the i’s and cross the t’s, we’re looking at Q4 to launch the OTC desk here in the UK. Some of our customers have said we want to do OTC trading. It will be an interesting part of the jigsaw puzzle that eToro is putting together.”

He said that eToro has had a ‘lot of interest’ from family offices because they are looking to diversify their portfolio. He added that one or two individuals are needed to make a decision which makes it easier for them to get into the market than big firms.

“UK Has No Regulation”

Gandham is the Chair of CryptoUK, a self-regulatory body set up by leading crypto exchanges to help develop appropriate regulation. He will be presenting at the crypto assets task force in two weeks. He said that the reports by this task force and the UK Treasury Select Committee will shape the UK regulations and that we will hopefully have regulatory clarity by the end of the year. He said:

“The UK has no regulation. It’s quite opaque because you don’t know when regulations are going to move in. From a consumers perspective, because you don’t have clarity, you don’t know which companies to trust. Regulation will really help increase user adoption and decrease the risk. In China, people just moved onto other platforms like LocalBitcoin which are good but really, really risky. By de-risking the country, when they said we need to stop people selling cryptocurrencies, they’ve increased user risk.”

Gandham criticized the lack of regulation, calling it ‘very confusing’ for businesses. He said that clarity on regulation will help ‘foster innovation and protect the consumer.’ He called on the government to provide clear guidelines but recognized that the research is underway.

 

Image From Shutterstock

The post Trading Giant eToro to Launch Crypto Exchange, Competing Against Major Platforms appeared first on NewsBTC.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0.0095806 (+7.58%)
Объем 24H $0
Изменеия 24h: 2.35 %, 7d: -7.78 %
Cегодня L: $0.0086651 - H: $0.0095806
Капитализация $183.154k Rank 1690
Цена в час новости $ 0.00822808 (16.44%)

trading etoro crypto exchange launch managing newsbtc

trading etoro → Результатов: 18


eToro’s Trader Friendly Features set to take on the likes of Coinbase

eToro is the world’s leading social trading and multi-asset brokerage company for more than a decade now. The global trading platform has played a pivotal role in shaping the trading world with cutting-edge investment tools in a bid to reduce the dependency on traditional financial institutions and facilitating channels for anyone to have access to […] The post eToro’s Trader Friendly Features set to take on the likes of Coinbase appeared first on AMBCrypto.

2019-9-24 15:50


Фото:

eToro Launches Crypto Trading Platform and Wallet in the US

Social trading and multi-asset brokerage company eToro has officially launched its crypto trading platform and wallet in the US, allowing customers from 32 states and US territories to trade 13 cryptoassets, including BTC, ETH, LTC, XRP, DASH, BCH, XLM, Ethereum Classic, NEO, EOS, ADA and Zcash, with more to be added in the near future, […] The post eToro Launches Crypto Trading Platform and Wallet in the US appeared first on Coinjournal.

2019-3-8 22:37


Фото:

eToro Domination Continues With Potential London Trading Desk

eToro is a cryptocurrency platform that seems to be expanding at an alarming rate. eToro news is rife and the company seems to be constantly hitting the headlines for all the right reasons. Next up, recent reports state that eToro are looking to open a physical cryptocurrency trading desk in London, in a move that would surely cement eToro’s reputation in the capital and would give a whole host of new customers, access to the growing eToro platform.

2018-6-18 13:00


Фото:

Bitcoin ‘Boom-Bust Cycle Has Repeated Itself’ – Senior Market Analyst (Interview)

Bitcoinist has once again caught up with Mati Greenspan, Senior Market Analyst at eToro, the most popular social trading platform in the world with millions of users. Greenspan keeps a close eye on cryptocurrency markets and shares his thoughts on the recent Bitcoin price plunge and why he believes this current downtrend nothing out of the ordinary.

2018-6-15 03:00