Social trading brokerage eToro has just announced that it is partnering with CoinDash to cooperate on several new products. The companies will work together to reply blockchain-based solutions for crypto portfolio management.
CoinDash has already been involved in the development of a crypto-based social trading platform. The company’s beta app has been running with almost 10,000 users according to its website. The solution has been integrated with the Poloniex cryptocurrency exchange.
eToro and CoinDash are working together to develop and deploy to market Portfolio Tracking Tools, a product that makes the platform appealing to both experienced and novice crypto-enthusiasts.
The social trading brokerage will also partake in the co-development of the token model of the CoinDash platform to optimise the utility case of the social trading ecosystem that the companies are aiming to deploy.
The expertise of eToro in the social trading sphere will also be key to maintaining sufficient engagement levels on the part of investors.
eToro is CoinDash’s largest investor, helping the company by incubating the platform in its offices in China and Israel. The companies share offices, which helps with the coordination of operations. A co-development of the platform looks like a logical continuation of the process that was started some time ago.
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Yoni Assia Joins CoinDash Advisory Board
Yoni Assia, founder and CEO of eToro, is joining the advisory board of CoinDash. His role will be instrumental to the development of the portfolio management product as the firm seeks to expand its offerings and customer base.
Commenting on the news, Assia said: “Until this point, investors in cryptocurrencies have mostly been members of a niche community. 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 analyze their investments in cryptocurrencies and to learn from others. As CoinDash continues to grow and evolve as a business, I look forward to guiding the team as they provide much-needed tools for cryptocurrency investors,” he elaborated.
CoinDash CEO Alon Muroch said: “The eToro team has had great success in developing and scaling social trading platforms, and pioneering innovative new ideas like Copy Trading. We look forward to tapping the knowledge they have made available to us to ensure we can have the same great impact on our community.”
CoinDash is planning to deploy its product to market in the first quarter of 2018.