The Etoro Digital Trade Platform (ETOR) shared plans on Tuesday with tokenized actions that quote in the United States in the Ethereum block chain, joining the rivals to move towards the markets based on blockchain.
ERC-20 tokens will represent the underlying actions maintained in Etoro and can be redeemed again to traditional shares, according to the press release. The company said the objective is to make the shares negotiable in the chain and compatible with decentralized finance applications (Defi), opening the door to access to the market all day.
“Our goal is to Tokenizar Each Etoro Assets – Starting with actions – Allowing our users to move the tokenized assets to the block chain and from there integrate them into the broader defi ecosystem, “said Yoni Assia CEO in a statement.” “
He said that the new cryptographic regulations such as Mica in Europe and the Genius law centered on the stablecoin in the United States “makes the tokenization of real world assets a new opportunity to create digital assets that are legally backed and regulated.”
The measure will put Etoro along with a growing list of commercial places that recently introduced tokenized actions. The Robinhood competitor announced its tokens trade for European users last month, while several encryption exchanges, including Kraken, Gemini, Bybit, also debuted similar characteristics.
Etoro said that his offer of tokenized actions is based on past experiences in tokenization, acquiring Danish Token Start Signature in 2019 and launching tokenized gold and silver.
Read more: Robinhood pushes more deeply in crypto
