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eToro adds Stellar to its cryptocurrency offering

Despite the crypto market's drop over the last few weeks, eToro is expanding its line.

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Despite the crypto market’s drop over the last few weeks, eToro is expanding its line.

Global trading and investment platform eToro has today added Stellar to its Crypto CopyFund, bringing its total number of cryptocurrency assets available to eight.

Stellar, which is described as an open-source protocol for exchanging money, now joins Bitcoin, Ethereum, Bitcoin Cash, XRP, Litecoin, Ethereum Classic and Dash on the platform.

eToro launched the CopyFund in July last year, which uses CFDs to enable investors to diversify across all available cryptocurrencies (weighted by market cap) with just one click. Stellar will also be available to investors to own, after the platform expanded in response to investor demand to buy and hold crypto assets rather than simply speculate on price movements.

Commenting on the launch, Yoni Assia, Co-founder and CEO at eToro, said: “If 2017 was the year of Bitcoin, 2018 will be the year of altcoins. As investors seek new opportunities and diversification within their portfolios, attention will shift away from the mainstream cryptos towards new challengers in the market. “We’re constantly identifying and assessing new concepts as they emerge and are committed to bringing the best crypto assets onto our platform for our users to invest in. We’re excited to have Stellar now available and we look forward to seeing how the market develops in 2018 following a very successful 2017 for the crypto community.” Jed McCaleb, co-founder of Stellar Development Foundation, added: “The development of blockchain technology is bringing new innovations to the market almost daily. Platforms such as eToro are an essential component in bringing together innovative projects and early-adopters. We are delighted to be working with a leading crypto platform to make Stellar available more widely.”

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Yoni Assia

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