Crypto Trading Desk to be opened by eToro in London

eToro, a broker that proposes cryptocurrency trading in addition to foreign exchange, is to start a new over-the-counter cryptocurrency trading desk in London
18 June 2018   1493

Over-the-counter supports any financial trading activity that does not take place at an exchange. Things that are traded in this way are commonly subject to less regulation and transparency than they would be if they were listed on an exchange, but for most investors there is no significant difference. 

In his interview to Business Insider CEO Yoni Assia claimed that most interest was coming from the owners of hedge funds.

We’ve actually set up our corporate team here in the UK to start setting up accounts to trade on eToro. We’ve announced that we’re launching the exchange as well so, between the exchange and the OTC desk, we’re also starting to serve more potential institutions and financial institutions. I think there is growing institutional demand and interest of public investors to understand whether they can join the party. That is something we definitely see out there. We see more and more public market players and big banks who are interested in this space and feel left out because they’re not allowed to invest in crypto or ICOs
Yoni Assia,
CEO, eToro

As a social trading broker, eToro suggests its clients the option of copying the trading behaviour of other customers, that is good if they are too occupied or not experienced. It proposes trading in foreign exchange, stocks and CFDs. About 500 specialists are engaged on the firm, the company keeps offices in the UK, Cyprus and Israel.

The company was established in 2007 and started offering Bitcoin trading in January 2014. Cryptocurrency had become popular by 2017, and the firm reported a 4,500% jump in trading volume by April, and on one day in December it acquired more new customers in a day than it had in the whole previous year. In March 2018 the firm raised $162 million to fund an expansion into Asia and in May it got into the US market with that same money. It suggests Bitcoin, Ethereum, Litecoin, XRP, Dash, Bitcoin Cash, Stellar, Ethereum Classic, NEO, and EOS for trading.

Several months ago at a conference Yoni Assia claimed: “The use of blockchain and crypto is and will become a way of life.”

South Koreans to Invest in Crypto Actively

In addition to the investment amounts, the share of those interested in investing in digital assets also increased
22 April 2019   95

The average amount of investments in cryptocurrency from South Korean invesetprs is $ 6,100, which is 64% more than last year, Cointelegraph reports.

According to a survey conducted by the Korean Fund for the Protection of Portfolio Investors, in addition to the investment amounts, the percentage of those interested in investing in digital assets also increased. Thus, 7.4% of the 2500 respondents have already acquired cryptocurrency (last year there were 6.4% of those). It is noteworthy that this figure has increased, despite several major break-ins of the South Korean crypto exchange, as well as tougher regulation of the industry.

Analysts connect the market with a recent bitcoin price jump and hope for a new bull rally.

Recall recently it became known that 94% of trust capital funds invest in cryptocurrency.