Bloomberg: eToro Crypto Exchange Partners with Danish DLT Firm to Enter Tokenized Assets Market

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Mon, 03/25/2019 - 12:49
Alex Dovbnya
⛓️💪Crypto trading firm eToro is about to buy Danish blockchain company Firmo to use its team for stimulating the rise of tokenized financial assets
Cover image via U.Today
Contents

Bloomberg reports that Israel-based crypto exchange eToro intends to purchase DLT company Firmo based in Copenhagen. This move has been prompted by eToro’s interest in the growing market of tokenized financial assets. By acquiring the firm, the company plans to contribute to faster growth of this market.

Partnering with a blockchain R&D team

Under the terms of the acquisition, the research and development team of Firmo will work with eToro directly. However, the financial details of the contract have not been disclosed.

eToro CEO Yoni Assia believes that purchasing the Danish company will give eToro a major boost and in the future will enable it to prosper in the tokenized economy. The crypto exchange has big plans for that market and intends to be a massive player in it.

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How Firmo can be helpful to eToro

The Danish blockchain firm allows executing financial contracts working through multiple open ledgers. Crypto exchanges can utilize its programming language for making crypto derivatives, p2p lending services, etc.

Many in the crypto community expect to see a massive rise of tokenized assets this year, when companies will attempt to turn all sorts of assets and property into tokens and trade them on blockchain-powered platforms.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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