eToro and CoinDash team for blockchain-based social trading products
eToro has partnered with cryptocurrency portfolio management specialist CoinDash to develop a suite of blockchain-based products for social trading, reports David Penn at Finovate (Banking Technology‘s sister company).
“Until this point, investors in cryptocurrencies have mostly been members of a niche community,” eToro CEO Yoni Assia says. “The learning curve is steep and the market moves quickly. With thousands of new coins in the market, it can be difficult for mainstream investors to navigate this new space. The CoinDash team is enabling users to better analyse their investments in cryptocurrencies, and to learn from others.”
eToro’s global marketplace for traders of currencies, commodities, indices and CFD stocks supports more than 4.5 million users in more than 170 countries. Investors and traders alike can take advantage of eToro’s diverse community, using the wisdom and actual market transactions of the community’s more talented members to make better trading and investing decisions for themselves. This includes features like eToro’s CopyTrader, which enables automatic duplication of another user’s trading and investing decisions, and thematic investing with eToro’s Top Trader CopyFunds and Market CopyFunds products.
eToro has raised more than $72 million in funding and includes CommerzVentures, Spark Capital, Social Leverage, BRM Capital, and Cubit Investments among its investors.
In September this year, eToro announced it would offer access to five cryptocurrencies – Bitcoin, Ethereum, Ethereum Classic, Litecoin, and Ripple – the latter three previously supported only through its Crypto CopyFund, which was launched in July.
Founded in 2007, eToro is headquartered in London.