- Two of the stablecoins are pegged to gold and silver.
- The platform will add 17 stablecoin-to-stablecoin trading pairs.
eToroX, a cryptocurrency exchange by its parent company Etoro, has recently launched four stablecoins in its platform. Two of the stablecoins are pegged to gold and silver. The other two stablecoins - RUBX and CNYX- are fiat pegged. Yoni Assia, co-founder and chief executive of eToro, said:
“One of the key obstacles that crypto assets need to overcome for mainstream adoption is price stability. Stablecoins largely eliminate this hurdle, creating a more user-friendly way to interact with the blockchain. By adding eToro Gold and eToro Silver and expanding our fiat-stablecoin range to 10, we are demonstrating the vast potential offered by tokenized assets.”
Assia will discuss the present and future of security tokens on the upcoming Barcelona trading conference.
Etoro launched EtoroX to enter into the lucrative crypto trading market. It has obtained a license from Gibraltar to operate the crypto asset exchange. The firm will offer trading pairs against Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin. The platform will also add 17 more trading pairs, which will be stablecoin-to-stablecoin pairs.
Doron Rosenblum, managing director of eToroX, said:
“The addition of these fiat pairs means that people can now trade FX 24/7 as well as traditional assets such as gold and silver. We are continuing to open up markets and this step allows people for the first time to trade, hedge and close exposure whenever they want...The addition of 17 pairs and 4 assets to our exchange less than a month since we launched shows the commitment to grow our exchange and the huge possibilities offered by the blockchain. We don’t want to just add established crypto assets. We want to push the boundaries and continue to innovate.”
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