US based cryptocurrency platforms

This new location will give eToro US influence, which could certainly prove beneficial to the company and their clients in the future – but what can current US cryptocurrency platforms learn from this launch? Here, we’re exploring what we know about this expansion and how current US companies could take inspiration.

So, what’s happening?

At CoinDesk’s Consensus 2018, eToro CEO Yoni Assia announced during his keynote speech that eToro would not only be expanding to the USA as a company, but would be launching a cryptocurrency exchange and a mobile wallet too.

These will both be available globally, including in the USA which is certainly a huge step in eToro’s journey as a company. Of course, we were given an insight into what this exchange and wallet would be like, and here’s what we know:

The new exchange

The online trading platform will be launched with crypto-to-crypto trading in mind. With an offering of 10 different cryptocurrencies and other unique features to consider, traders and competitors alike can certainly take a leaf out of eToro’s book. Between the introduction of the new exchange and copy trading and Crypto CopyFund features to look forward to, the possibilities are endless.

For US trading platforms, this is introducing a new competitor into the market. Keeping up could be a matter of introducing brand new, seamless features into trading platforms and expanding their reach overseas. As a leading force in the crypto world, eToro are certainly setting precedent for other platforms to follow.

The mobile multi-coin wallet

The mobile wallet being introduced works well alongside the trading platform, with the possibility of multiple currencies being held in the same wallet and providing easy access when using their trading platform. This crypto wallet, while limited at the start, will gain and develop all the functions of an electric wallet as well as some additional features unique to the eToro wallet.

Global expansion

EToro’s global expansion comes as a result of Series E funding, in which the company raised an amazing $100 million. Companies within the USA can take inspiration from the money raised, if nothing else, to further their own businesses. While not every company has the following that eToro does, they can certainly learn from the expansion regardless.

Cryptocurrency regulation could undoubtedly be on the horizon and by positioning themselves in countless countries across the globe, these regulations could be much easier to navigate. By becoming a ‘local’ trading platform to more and more countries, these platforms could bypass bans against overseas trading, while also keeping a global reach regardless.

EToro’s expansion allows the company to offer their existing and potential clients a much more solid position as a leading FinTech and Cryptocurrency leader.

Through careful implementation of global strategy, cryptocurrencies could quickly become much more accessible on a global scale regardless of potential regulation in the future.

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