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eToro to Launch Tokenized Stock Trading on Ethereum
In a significant move, eToro has announced its plans to launch tokenized stock trading on the Ethereum blockchain. This development marks a major milestone in the company’s efforts to tokenize traditional assets and provide users with seamless access to a wide range of financial products.
As part of its expanded product roadmap, eToro will initially offer an initial list of 100 popular US-listed stocks and exchange-traded funds that can be traded around the clock. This move aims to cater to the growing demand for 24/7 trading opportunities and is in line with the company’s long-term vision to tokenize every asset on its platform.
In a statement, eToro co-founder and CEO Yoni Assia emphasized the company’s commitment to tokenization, highlighting blockchain’s potential to facilitate unprecedented wealth transfer. “We’ve been long-term believers in a tokenized future. Blockchain technology will facilitate the greatest ever transfer of wealth as traditional assets are tokenized and moved onto the blockchain.”
The move follows a similar announcement by rival platform Robinhood, which recently launched its own tokenized stock trading service for European customers.
It is no surprise that Ethereum was chosen as the blockchain of choice for eToro’s tokenized stocks. With a total value on-chain of $21.4 billion in real-world assets, Ethereum has solidified its position as the go-to platform for tokenization.
Source: cryptopotato.com
