eToro adds ERC-20 standard tokens to wallet

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Interesting news for eToro users — it has added support for 120 ERC-20 standard tokens in its cryptocurrency wallet. The wallet is managed by eToroX, an eToro subsidiary that is regulated by the Gibraltar Financial Services Commission.

According to the press release sent to Coindesk, the first tokens to be added will be Maker (MKR), Basic Attention Token (BAT), OmiseGO (OMG), with the others to follow in the “near future.”

Doron Rosenblum, managing director of eToroX, said: “Adding 120 ERC-20 tokens to the eToro wallet is further evidence of our belief that one day all investable assets will be tokenized. One of the main barriers to mass adoption of cryptoassets is lack of access. Making these first 5 tokens available enables more people to transfer and hold them into a secure and regulated wallet.”

The eToroX cryptocurrency exchange launched in April alongside eight eToro-branded stablecoins. At the time, eToro CEO and co-founder, Yoni Assia, said, “Just as eToro has opened up traditional markets for investors, we want to do the same in the tokenized world. […] Blockchain will eventually ‘eat’ traditional financial services through tokenization.”

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