eToro adds three more assets to its crypto offering
eToro adds Fetch.ai, Ren and Synthetix to crypto offering
January 18, 2022: eToro, the social investment network, announced that it has added three more assets to its crypto offering(1).
Fetch.ai (FET), Ren (REN) and Synthetix (SNX) are now available on eToro bringing the total number of cryptoassets offered to 45(2).
Fetch.ai (FET) is a blockchain protocol that focuses on artificial intelligence (AI) and building an open-access machine learning network. The project’s ambition is to build smart automated infrastructure for the digital economy, with a focus on decentralising processes. The tech helps users to automate a range of tasks in DeFi such as withdrawing liquidity from pools on DeFi exchanges such as Uniswap. Token holders can vote on changes to the system and also use it to power Fetch programs of their own.
Ren (REN) connects traders and decentralized applications across blockchains. Running on a network of dark nodes, REN transactions are done privately between exchanges to limit the impact of traders’ front-running markets. REN tokens are used to power the network and are required to run a dark node.
Synthetic (SNX), is a platform that allows users to create their own synthetic assets via blockchain. The technology allows users to create synthetic tokens for a range of assets from currencies, stocks, commodities and cryptos. Investors can use SNX for pricing oracles which detect the value of cryptoassets and create synthetic assets on the Ethereum mainnet.
“Last year investors snapped up newer cryptos as the rise of decentralised finance captured more and more people’s interest. Whilst the start of the year has been volatile, we expect DeFi to grow in 2022”, said Tomer Niv, Director of Global Crypto Solutions at eToro. “eToro is about offering investors choice, and we’re excited to continue to expand the range of cryptos we offer to investors enabling them to diversify their investments.”
eToro has been offering retail clients access to the crypto markets since 2013. eToro’s users can easily buy, hold and sell the real underlying assets of Fetch.ai (FET), Ren (REN) and Synthetix (SNX) on its investment platform, using fiat currency.
For now, these tokens will not be available to US users.
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Notes to editors
- For now, Fetch.ai (FET), Ren (REN) and Synthetix (SNX) will not be available to US users.
- eToro offers 27 coins for US users of the platform. eToro offers 43 coins for users in the Netherlands.
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eToro is a social investment network that empowers people to grow their knowledge and wealth as part of a global community of successful investors. eToro was founded in 2007 with the vision of opening up the global markets so that everyone can trade and invest in a simple and transparent way. Today, eToro is a global network of more than 25 million registered users who share their investment strategies; and anyone can follow the approaches of those who have been the most successful. Due to its simplicity users can easily buy, hold and sell assets, monitor their portfolio in real time, and transact whenever they want.
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Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.
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