eToroX, the blockchain wing of the investment platform eToro, added five new stablecoins to its platform in addition to Dash, USDC, and USDT. The new additions will now enable institutional traders to acquire more instruments on the regulated crypto exchange.
According to an official announcement, the newly added stablecoins are eToroX Turkish Lira (TRYX), South African rand (ZARX) Hong Kong dollar (HKDX), and the Singapore dollar (SGDX). The new additions bring to 17 the number of stablecoins now available on the platform. Others include eToroX United States dollar (USDEX) Euro (EURX) and Sterling pound (GBPX). The exchange also supports USDC, USDT, and Dash. eToroX also offers a crypto-commodity pair—GOLDX/BTC.
GoldX, which is a tokenized gold stablecoin, is the platform’s native currency for trading as a pair with Bitcoin. According to the managing director Doron Rosenblum, the “Gold/Bitcoin pair provides a means to trade between the old and the new stores of value.”
96 Trading Pairs on eToroX
Since its launch in April 2019, the platform currently offers 96 trading pairs. It plans to add more digital currencies, trading pairs, and stablecoins to its platform “in the coming months.”
eToroX is committed to supporting the needs of algo traders who seek to venture into crypto assets on a secure and regulated platform. The new additions also point to the platform’s focus on the Asian market.
Speaking about the new development, eToroX Managing Director Doron Rosenblum said:
“We see the addition of USDC and USDT as a way for eToroX to further meet the needs of professional and institutional algo traders, particularly in the Asian markets. Adding five new stablecoins, plus the addition of Dash crypto asset, demonstrates our ongoing commitment to bridge the gap between the world of blockchain and traditional financial markets.”
With the new additions, the eToroX platform remains focused on opening up the world of trading on the blockchain. A subsidiary of the eToro Group, it aims to provide the infrastructure that supports its parent company’s commitment to facilitating the development of tokenized assets.
Featured Image Source: chepicap.com
