- eToro wallet will support four established cryptoassets, including bitcoin (BTC), litecoin (LTC), ether (ETH) and bitcoin cash (BCH)
- eToro says the new wallet will support crypto-to-crypto conversion as well as fiat deposits
- The cryptocurrency wallet comes with multi-signature functionality and eToro says it plans to add more features shortly
eToro, a multi-asset trading platform that allows clients to trade cryptocurrencies alongside other traditional financial instruments including stocks, indices, ETFs and more, has launched own multi-signature on-chain cryptocurrency wallet via its Gibraltar subsidiary, eToro X, to make it easy for retail investors to store cryptoassets securely, reported Finance Magnates on November 6, 2018.
eToro Unveils Proprietary Multi-Sig Crypto Wallet
Now, eToro social trading and multi-asset brokerage platform has launched own multi-cryptocurrency wallet through its Gibraltar subsidiary, eToro X.
According to eToro, its new proprietary multi-crypto on-chain wallet supports only four established distributed ledger technology (DLT) based cryptoassets at the moment, including bitcoin, bitcoin cash, litecoin and ether, however, more digital assets will be added shortly.
The wallet which comes with multi-signature functionality is available on Apple App Store and Google Play.
eToro has made it clear that its new cryptocurrency wallet will support crypto-to-crypto conversion as well as fiat currency deposits.
The firm has also hinted that only clients with at least $25,000 of equity on its platform will be able to transfer funds to the new wallet and the service will be extended to more users over time.
Gibraltar Embraces Crypto
At present, eToro says its eToro X subsidiary which has been in the pipeline for quite some time now, has received ‘in-principle’ approval from the Gibraltar Financial Services Commission (GFSC) and would soon be granted the much coveted Distributed Ledger Technology (DLT) Provider License.
As reported by Blockchain Reporter in October 2018, Gibraltar is creating an enabling environment for virtual currency and blockchain-based businesses to thrive, and the state has already granted a couple of startups its DLT license.