Social investment platform eToro acquired Danish blockchain-startup Firmo, a press release says.
Firmo develops smart contracts for derivatives that can be supported by “any popular blockchain”, including Ethereum, NEO or EOS. In addition, the company is developing a smart contract language FirmoLang.
The acquisition of Firmo will enable eToro to accelerate the growth of our tokenized assets offering. Blockchain and the tokenization of assets will play a major role in the future of finance. We believe that in time all investible assets will be tokenized and that we will see the greatest transfer of wealth ever onto the blockchain.
Co-founder and CEO, eToro
Firmo will operate as an innovative division of eToro. In particular, the startup will research and develop infrastructure for tokenization of assets and trade operations on the blockchain.
The amount of the transaction is unknown.