eToro, one of the world’s leading “social trading and multi-asset brokerage companies”, has just acquired Delta, a cryptocurrency portfolio tracking app.
Reported by TechCrunch, this new eToro brand plunging even further into the cryptocurrency space, with the recent launch of a cryptocurrency wallet and trading service.
At this point, we don’t know how much the deal was worth, but a source close to the publication claims it was worth around $ 5 million.
Essentially, Delta helps users make informed decisions when it comes to investing in cryptocurrencies by tracking their trading history. This is key for such a nascent space, especially as many are struggling to embrace Bitcoin, let alone the hundreds of other assets in the market.
Widespread adoption of cryptocurrency
Currently, Delta supports over 6,000 crypto assets and over 180 exchanges, using information from all of these spaces to keep investors informed. Since its launch, the platform has recorded 1.5 million downloads.
“At a time when other fintechs are saying they aren’t even aiming for profitability, we pride ourselves on being a well-funded and profitable company that is growing both in terms of geographic coverage but also product line.” said eToro CEO Yoni Assia. .
“We are a trading and investment platform that not only provides clients with access to the assets they want, from commission-free stocks and ETFs to currencies, commodities and crypto-assets, but also enables clients to choose how they invest. They can trade directly, copy another trader, or invest in a portfolio. We believe in empowering our customers and the acquisition of Delta will allow us to add an important new element to our offering, ”she continues.
Click here to learn more about Crypto trading.
Disclaimer: Virtual currency transactions are subject to various risks, such as price volatility, and therefore not suitable for everyone. Your capital is in danger. eToro only offers crypto (real crypto with no CFDs), so buy only without leverage. Later this year, eToro will also offer real stocks for trading.