LONDON, June 2, 2017 /PRNewswire/ --
eToro, the world's leading social trading network, is today announcing plans at the St. Petersburg Economic Forum (SPIEF) to launch a pilot blockchain wallet which will, for the first time, enable people to hold and exchange multiple cryptocurrency assets in the same wallet. Users will be able to see all their cryptocurrency assets on the blockchain and exchange those assets across the relevant blockchains.
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The project is being launched at SPIEF, which is a unique event in the world of business and economics. SPIEF has been held since 1997, and since 2006, it has been held under the auspices of the President of the Russian Federation, who has also attended each event.
The project is being run by eToro in conjunction with coloredcoins.org. The launch will enable eToro users to buy different digital assets, and have them registered into the blockchain using coloredcoins.org technology.
The spate of recent Initial Coin Offerings has seen the cryptocurrency total market cap rise to near $100bn. The market was once dominated by a single cryptocurrency, Bitcoin; but is now much more varied with hundreds of new cryptocurrencies brought to market just this year.
Announcing the wallet, Yoni Assia, Co-founder and CEO of eToro, said:
"Blockchain is the biggest innovation in financial services since the introduction of computers into finance, and has the potential to disrupt how all financial services companies will work in the next 20 years.
"We want to make it easy for people to own, manage and exchange assets on blockchain, that's what the Blockchain Wallet is all about."
eToro has long been a pioneer in the blockchain space, having founded coloredcoins.org in 2014, to focus on creating digital currencies for smart economies.
eToro users can already invest in Bitcoin and Ethereum via CFDs, and can also copy the cryptocurrency trading of some of the world's leading crypto experts.
eToro is a leading online trading and investing community. The award-winning platform connects you with a global, growing network of 6 million users, with expertise in everything from short-term trading in Bitcoin to long-term investing in bank stocks. Learn from and copy the best investment strategies and become a leading trader yourself. eToro is the next-generation hub for traders and investors of all shapes and sizes.
Investment products offered by eToro are contracts for differences (CFDs) in currencies, stocks, commodities, indices and exchange traded funds (ETFs). These products carry a high degree of risk and are not suitable for many investors.
If the market moves against you, you may sustain a total loss greater than the funds invested in a specific position. You are responsible for all losses on your account up to the equity in your account.
* All trading involves risk. Only risk capital you're prepared to lose. Past performance is not a guide to future performance.
The St. Petersburg International Economic Forum (SPIEF) is a unique event in the world of business and economics. SPIEF has been held since 1997, and since 2006, it has been held under the auspices of the President of the Russian Federation, who has also attended each event.
Over the last 20 years, the Forum has become a leading global platform for representatives of the business community to meet and discuss the key economic issues facing Russia, emerging markets, and the world as a whole.
The St. Petersburg International Economic Forum 2016 was attended by over 12,000 participants from 133 countries, including heads of state and government from emerging economies, heads of major corporations, and the world's leading experts in the fields of science, the media, and civil society.