eToroX, the crypto arm of eToro, on Tuesday announced the extension of its crypto offering with the addition of USDC, Tether, and five new stablecoins. The platform also listed peer-to-peer digital asset Dash.
The five new stablecoins are pegged to the Turkish lira, Polish zloty, South African rand, Hong Kong dollar, and Singapore dollar, which took the number of proprietary fiat-pegged digital currency to 17.
With the newly introduced stablecoins, the exchange added an array of new trading pairs which include USDEX/ZARX, ZARX/JPYX, EURX/PLNX, USDEX/PLNX, USDEX/HKDX, USDEX/TRYX, USDEX/SGDX, ETH/USDT, XRP/USDT, LTC/USDT, BCH/USDT, XLM/USDT, EOS/USDT, TRX/USDT, BTC/USDC, ETH/USDC, XRP/USDC, LTC/USDC, BCH/USDC, XLM/USDC, EOS/USDC, and TRX/USDC.
The addition of the new offerings has taken the total count of trading pairs to 96.
Turkish Lira Trades Near Record Lows on Unorthodox Monetary PoliciesGo to article >>
Commenting on the new offering, Doron Rosenblum, managing director at eToroX, 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 the Dash cryptoasset, demonstrates our ongoing commitment to bridge the gap between the world of blockchain and traditional financial markets.”
Combining bullion and crypto
The exchange also added a new trading pair of its gold-pegged stablecoin GoldX against BTC.
“Our Gold/Bitcoin pair provides a means to trade between the old and the new stores of value, making Gold/BTC an extremely special and interesting combination,” Rosenblum added.
eToro launched its crypto arm in April this year after obtaining a license from regulators in Gibraltar.
Meanwhile, the Israeli platform also acquired crypto portfolio tracker app Delta, which will operate independently within the crypto exchange arm. The platform also introduced a sentiment-based crypto investment strategy tool for the traders.