16 hours ago
Digital trading level eToro (ETOR) shared plans connected Tuesday to tokenized U.S-listed equities connected the Ethereum blockchain, joining rivals to determination towards blockchain-based marketplaces.
The ERC-20 tokens volition correspond the underlying shares held connected eToro and tin beryllium redeemed backmost into accepted banal holdings, according to the property release. The institution said the purpose is to marque equities tradable on-chain and compatible with decentralized concern (DeFi) applications, opening the doorway to around-the-clock marketplace access.
"Our extremity is to tokenize each plus connected eToro – starting with stocks – enabling our users to determination tokenized assets onto the blockchain and from determination integrate them into the broader DeFi ecosystem," CEO Yoni Assia said successful a statement. ""
He said that caller crypto regulations similar MiCA successful Europe and the stablecoin-focused Genius Act successful the U.S. "makes the tokenization of real-world assets a caller accidental to make integer assets that are legally backed and regulated."
The determination volition enactment eToro alongside a increasing roster of trading venues that precocious introduced tokenized equities. Competitor Robinhood announced its banal token trading for European users past month, portion respective crypto exchanges including Kraken, Gemini, Bybit besides debuted akin features.
EToro said its tokenized banal offering physique connected past experiences successful tokenization, acquiring Danish token startup Firmo successful 2019 and launching tokenized golden and silver.
Read more: Robinhood Pushes Deeper Into Crypto With Own Blockchain, Tokenized Stock Launch
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