Exchange and social network for investors and traders eToro announced that it has acquired smart contracts development company Firmo for an undisclosed amount.
The acquisition was reported in a press release published on March 25.
Co-founder and CEO of eToro Yoni Assia is quoted in the announcement explaining that the acquisition will allow the platform to grow its offering of tokenized assets.
"We believe that in time all investible [sic] assets will be tokenized and that we will see the greatest transfer of wealth ever onto the blockchain."
Per the release, the team of the acquired company will act as an internal innovation team working on the tokenization of all eToro's assets.
This process will also reportedly involve the research and development of infrastructure dedicated to the representation of assets and trade execution on blockchain.
The announcement claims that Firmo's technology allows the safe deployment of financial contracts on any blockchain.
The system employs a domain-specific contract language dubbed "FirmLang" that can be translated by the company's software onto platforms such as Ethereum, EOS or NEO. As Cointelegraph reported earlier today, eToro has also announced the listing of Tron on its cryptocurrency trading service, which was launched at the beginning of the current month.
Earlier in March, eToro had launched crypto trading services in the United States.
Recently, U.S.-based institutional cryptocurrency exchange Seed CX partnered with Singapore-based fintech company Hydra X to offer its trading service in Asia.
Leading Social Platform eToro Acquires Smart Contract Development Company Firmo
gepubliceerd op Mar 25, 2019
by Cointele | gepubliceerd op Coinage
Coinage
Recent nieuws
Alles zien
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.