Popular trading platform eToro has collaborated with Blockchain Association as the duo work towards building a financial ecosystem that would be inclusive and efficient with the help of the blockchain technology.
Blockchain-based financial ecosystem to be developed
Investment platform eToro will work alongside the Blockchain Association as they look to promote a financial ecosystem that will be more efficient and inclusive. To create this distributed financial system, the linked bodies will look to develop a better-decentralized web application.
eToro while talking about this latest development pointed out that it would assume the role of an executive member in Blockchain Association, a position that would enable it to work with other members such as Coinbase, Circle, Polychain, and Digital Currency Group.
Guy Hirsch, USA Managing Director, eToro is excited about this move, stating that “As a company, we prioritize compliance with the regulations of all the jurisdictions we operate in around the world. As the United States’ blockchain industry evolves and matures, regulators and the industry need to prioritize conversations around ensuring consumers are informed and protected from bad actors.”
He further stated that the company is looking forward to collaborating with regulators and major industry players in helping provide positive regulations for the industry. This will ensure that companies can flourish in a compliant manner, he added. Hirsch also believes that the Blockchain Association promotes policies that balance consumer protection and innovation and eToro is proud to help drive its mission forward. According to Hirsch, the investment and trading platform considers the opportunity to work with the group as an important step in cementing their place as a key player in the US crypto market ahead of its launch.
eToro joining the group is a plus for the blockchain and crypto sector
By joining the Blockchain Association, eToro is becoming committed to encouraging an effective regulation in an industry that is always evolving and requires the partnership between key industry players. Hirsch while addressing their customers stated that they always like to keep them informed and protected from the bad actors in the industry. By working with Blockchain Association, eToro will be able to make use of its influence to educate regulators and other crypto enthusiasts and pave way for an industry that will thrive.
Blockchain Association director of external affairs Kristin Smith meanwhile stated that “The power of open blockchain technology lies in the control it returns to individual consumers. eToro’s groundbreaking investment platform operates in that spirit, giving users the opportunity to trade across multiple asset classes, including cryptocurrencies, safely and securely. We’re excited to add eToro to a growing group of leading companies as we push for informed and responsive regulation that spurs innovation and protects consumers in this rapidly-developing industry.”
On a personal noted, Hirsch stated that giving people access to a wide range of assets and educating them about it will go a long way in empowering people to achieve their financial goals. This is something that eToro has been committed to, he added. The investment platform recently launched its Good Dollar initiative which was put in place to reduce the global wealth inequality. The company has sunk in $1 million into the project to help assist the unbanked sector gain access to financial facilities via digital currencies.