Initially revealed in a report by Bloomberg, eToro has agreed to purchase Copenhagen-based blockchain firm Firmo to accelerate the growth of tokenized financial assets. While the terms of the deal are not public, eToro did note that it would be bringing on Firmo’s R&D team with the acquisition.
— eToroX (@eTorox) March 26, 2019
“This acquisition is a game changer for eToro as it will help boost our growth in the future tokenized economy,” eToro CEO Yoni Assia said in an interview with Bloomberg. “We aim to be active players in blockchain consolidation.”
Firmo’s platform is used to execute financial contracts across numerous blockchains to allow clients to create products like derivatives or lending services. It’s currently unclear what exactly eToro is planning to do with the new tech, but the company did note it is looking to close additional acquisitions in the near future.
Adding to the busy start to the week, eToro revealed that it has added trading support for TRON (TRX), the 11th-largest digital currency.
— eToro (@eToro) March 25, 2019
TRON is the 14th digital asset listed on the eToro platform.
Image: Web Summit / Flickr
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.