First wave of 120 ERC-20 tokens added to eToro wallet
New tokens include two eToro stablecoins
eToroX, the blockchain subsidiary of global investment platform eToro, today announces that it will add 120 ERC-20 tokens to its multi-crypto on-chain wallet.
Doron Rosenblum, CEO of eToroX , comments: “ Adding 120 ERC-20 tokens to the eToro wallet is further proof of our belief that one day all investable assets will be tokenized. One of the main barriers to mass adoption of cryptoassets is the lack of access. erc20 token creator The availability of these first 5 tokens allows more people to transfer them and hold them in a secure and regulated wallet. The next step will be to add more ERC-20 tokens to our exchange, which we plan to do in a near future “.
ERC-20 tokens are used only on the Ethereum blockchain network and must follow a set of rules before they can be shared, exchanged for other cryptoassets, or transferred to a crypto wallet.
The eToro wallet is a mobile application available through Google Play and the Apple App Store. Provides an easy-to-use client interface and enhanced security. Multi-signature security* gives users the ability to view their transactions and balances on the blockchain without fear of losing their private key**.
The wallet is developed and managed by eToroX, a subsidiary of the eToro Group. eToroX is one of the first companies certified as a regulated provider of Distributed Ledger Technology (DLT) by the Gibraltar Financial Services Commission (GFSC).
* Multiple signature: refers to requiring more than one key to authorize a bitcoin transaction.
** Private key: a secret key, which combined with an algorithm allows you to encrypt or decrypt the “content”
ERC-20 tokens must comply with 6 mandatory rules and have the option to follow all three.
About eToro
eToro was founded in 2007 with the vision of opening up global markets for everyone to trade and invest easily and transparently. The eToro group consists of the eToro platform, our multi-asset trading and investment hub, and eToroX, which manages our crypto exchange and portfolio.
The eToro platform allows people to invest in the assets they want, from stocks and commodities to cryptoassets. We are a global community of more than ten million registered users who share their investment strategies; and anyone can follow the approaches of those who have been the most successful. Due to the simplicity of the platform, erc20 token generator users can buy, hold and sell assets, monitor their portfolio in real time and trade whenever they want.
As technology has evolved, so has our business. In 2018, we created eToroX, our tokenized asset subsidiary. eToroX provides the infrastructure, in the form of a crypto wallet and upcoming exchange, that supports our commitment to facilitating the evolution of token assets. We believe that leveraging blockchain technology will allow us to become the first truly global service provider that enables everyone to trade, invest, and save.
eToroX is a subsidiary of the eToro Group. The business was formed in 2018 to provide the infrastructure to support the eToro Group’s commitment to facilitating the evolution of tokenized assets. It provides the newly launched eToro wallet and executes the trade.
The Distributed Ledger Technology (DLT) provider license was granted by the Gibraltar Financial Services Commission to eToroX in December 2018 (license number FSC1333B). eToroX is incorporated in Gibraltar under company number 116348 and its registered office is at 57/63 Line Wall Road, Gibraltar.
The fact that ERC-20 tokens are a standardized interface brings great benefits to the entire Ethereum ecosystem. Among these advantages we can highlight:
This facilitates the work of developers by unifying work criteria within the Ethereum blockchain.
Reduces the complexity of token systems.
This improves the interoperability of the systems, since standardization requires the programmatic horizontality of the software.
This is because the OCIs have done it to finance projects and use them as a basis for the work within them.
Elimination of risk factors that can break or falsify smart contracts.
Reduce incompatibilities and increase interoperability resources.
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