eToro continues to expand, making its second acquisition of 2019

eToro continues to expand, making its second acquisition of 2019

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Multi-asset investment platform eToro is considered a leader in the new wave of digital investment platforms. The company has been aggressive in its expansion, offering stocks, ETFs and cryptocurrencies to its ever-growing users. Just recently, the company acquired Delta, a crypto portfolio tracking application—its second acquisition of 2019. Speaking to CoinGeek, the company revealed that the acquisition will enable it to forge on with its mission of making investing as easy and stress-free as possible.

In a press release announcing the acquisition, eToro described it as a reflection of the company’s commitment to continued growth and innovation. Yoni Assia, the co-founder and CEO of eToro stated, “When we started eToro our goal was to disrupt the world of trading. We wanted to change the way people think about trading and investing, ultimately reducing dependency on traditional financial institutions and make trading and investing more transparent and fun. This mission remains our guiding light and we will continue to evolve both organically and by acquisition in order to bring our customers the very best experience.”

Delta helps its users track over 6,000 crypto assets across over 180 exchanges. It currently has over 1.5 million users who will now get to enjoy the services that eToro offers.

“We see a lot of synergies between the two brands and the acquisition will also enable trading on eToroX directly from the Delta platform,” Jasper Lee, the MD of eToro Asia told CoinGeek. He added, “Allowing traders and investors to view and ultimately manage all their assets—from crypto through to stocks, ETFs and FX—in one platform would be the logical extension of this partnership.”

The Delta team will become part of eToroX, Lee revealed. eToroX is the company’s crypto division and will also be in charge of its crypto exchange once it launches. The Delta team, which is based in Belgium, will continue with its normal operations despite the acquisition.

eToro prides itself in its relationship with regulatory bodies. It operates under the DLT license it received from the Gibraltar Financial Services Commission. As such, it will be strict with its regulatory requirements despite the cross functionality between eToroX and Delta.

Lee stated, “eToroX services will be clearly distinguished from other functionality on the Delta platform. Users will need to onboard with the exchange in order to trade on it, regardless of which platform they choose to do this on.”

Delta is eToro’s second acquisition this year, having acquired Firmo in March. Firmo is a Danish smart contract infrastructure provider which lets its users execute smart contracts across various major blockchains. These acquisitions will help eToro stay true to its mission of making investing easy and fun.

Lee concluded, “eToro continues to abide by its mission to disrupt the world of trading. We will continue to provide clients access to the assets they want and allow them to choose how they invest. With Delta being eToro’s second acquisition this year, we continue to actively look at acquisition opportunities as we continue to grow.”

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