eToro, the global investment firm, have released their own cryptocurrency wallet. It will allow traders to buy and sell a range of cryptocurrency, and also let them deposit or withdraw into fiat currency – or exchange cryptos.
eToro describe the wallet as: A Multi-crypto on-chain wallet with multi-signature security
The mobile app will be available for download to all 10 million registered account holders at eToro, and new customers. It can be found on both the Google Play and Apple App stores.
A phased rollout means the initial version of the software will only feature four Alt-coins: Bitcoin, Bitcoin cash, Ethereum and Litecoin. To protect the user experience, the firm are also rolling the application out to certain groups of users first, and country by country while they scale up the operation.
The etoro wallet is provided by eToro X Limited (“eToro X”). eToro X is incorporated in Gibraltar with company number 116348, registered office 57/63 Line Wall Road, Gibraltar (“eToroX”). eToro X have received an ‘in-principle’ approval from the Gibraltar Financial Services Commission in respect of its application for a Distributed Ledger Technology (DLT) Provider Licence application.
The security provided means that traders can view their blockchain transactions without using their private key, thus reducing risk to the end user.
eToro CEO, Yossi Assia, had this to say:
“We believe that crypto and the blockchain technology that underpins it will have a huge impact on global finance. Blockchain has the potential to revolutionise finance and we believe that we will see the greatest transfer of wealth ever onto the blockchain. We believe that in the future all assets will be tokenised and that crypto is just the first step on this journey. Just as eToro has opened up traditional markets for investors, we want to do the same in a tokenised world. The eToro wallet is a key part of this.”
“The eToro wallet today is just the beginning and we will adding a whole host of additional functionality which will include supporting additional crypto and fiat tokens, crypto to crypto conversion, the ability to deposit fiat, payment in store and more.”