eToro platform ramps up crypto listings with Sandbox and CELO
Sandbox (SAND) and CELO are the next coins to join eToro’s list of featured digital assets. According to the company, these tokens have made the ranks as the latest addition in order to offer eToro customers diversity in their cryptocurrency portfolio.
The altcoins will be available for trading on the platform alongside 42 crypto assets including BTC, ETH, BCH, LTC, XRP, DASH, ETC, ADA, XLM, EOS, NEO, TRON, ZEC, BNB, XTZ, LINK, UNI, COMP, AAVE, YFI, MANA, ALGO, MATIC, BAT, MKR, ENJ, FIL, DOT, SOL, ATOM, GRT, CRV, 1INCH, SUSHI, $CHZ, QNT, AXS, CELO, and MIOTA.
Celo is an open-source platform building a utility and governance asset, Celo Gold, as well as a dollar-pegged stablecoin. Dubbed ‘Celo Dollar,’ the startup promises to be a stablecoin to rival Libra and is backed by a collateral reserve of Celo Gold and other digital assets.
The company is also working on its own blockchain which operates as a proof-of-stake network that aims to provide users with accessible financial tools without having to manage a crypto wallet.
As explained by the broker, Celo enables users to send, receive, and store its stablecoins even with people who do not have the app, using just their phone number.
eToro does not simply adhere to offering crypto CFDs
The introduction of new instruments adds to eToro’s rapidly expanding suite of cryptos. The Israeli social investment platform has had a string of recent announcements in a major push to attract crypto traders and grow its user base. Earlier last month, it announced the addition of new coins, including Solana’s native token, SOL, Filecoin (FIL) and Polkadot (DOT), as it continues to explore emerging digital assets.
Commenting on the news, Doron Rosenblum, VP of Business Solutions at eToro said:
“We’re seeing huge demand for DeFi and metaverse tokens, and we’re delighted to be able to offer more of these assets to our customers. The addition of these new tokens to the eToro platform demonstrates the breadth of choice available to investors in the crypto-asset market today, with some 42 tokens now available on our platform. We will continue to grow our crypto offering to enable users to diversify their portfolios with a broad range of crypto assets.”
Unlike many other brokers, eToro does not simply adhere to offering crypto CFDs but also allows clients to purchase the assets, with eToro acting as custodian and holding the digital coins on behalf of clients.