A trading platform with more than 10 million users has launched in the US – enabling consumers to trade 13 types of crypto assets and benefit from a multicurrency wallet.
eToro says that its product is initially going to be available to Americans based in 32 states and territories. Although the services that can be accessed through its platform will be limited at first, the company says it is upbeat that multi-asset trading will be available from the beginning of 2020.
In the international markets that eToro currently operates in, users are able to trade and store more than 1,500 different types of asset class. As well as cryptocurrencies, stocks, commodities, bonds and fiat can also be transacted.
The company believes that the US market enables crypto enthusiasts with differing levels of expertise “to find the best crypto asset trading strategies in an environment rich with unconventional educational tools” – giving them a chance to emulate successful traders on the network. This is achieved through the CopyTrader feature, which enables consumers to use their funds to trade proportionally to the portfolio of someone else on the platform.
Yoni Assia, the co-founder and CEO, of eToro, explained:
“For the first time, Americans can collaborate with other crypto traders when making buying and selling decisions. Users can adjust their trading strategies by watching and learning from others on the platform.”
eToro had initially announced plans to launch its cryptocurrency offering in America back in May 2018, but the rollout was delayed as the platform secured regulatory approval. At present, the platform is operational in more than 140 countries.
The company has certainly been making a splash in other regions over recent months. Back in September, eToro announced that it was entering into partnerships with seven of England’s Premier League football clubs – including Crystal Palace, Leicester, Tottenham Hotspur and Newcastle United.