eToro Buys Smart Contract Startup Firmo

eToro Buys Smart Contract Startup Firmo

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Global multi-asset exchange platform eToro has acquired smart contract infrastructure provider Firmo in an undisclosed transaction, according to a press release published by the company.

With the new acquisition, eToro says it is one step closer to becoming the first truly global multi-asset service provider that allows people to trade, invest, and save.

Firmo will allow eToro to speed up the growth of its tokenized assets offering. The company believes that blockchain and tokenization of assets will be critical players in the future of finance.

Yoni Assia, CEO of eToro, believes “that in time all investible assets will be tokenized and that we will see the greatest transfer of wealth ever onto the blockchain.”

The Firmo team will have an internal role in eToro as an innovation team that will work for the tokenization of all assets in eToro.

Previously, Firmo developed a platform that allows the deployment of financial contracts on different blockchains. The Firmolang, its flagship software, is a formally verified, domain-specific contract language that will be integrated into other blockchain platforms such as Ethereum, EOS, NEO. 

As a matter of context, eToro recently arrived in the United States with a cryptocurrency platform and wallet services for 32 states. eToro currently offers 13 cryptocurrencies in the US, but the new acquisition hints for the addition of new digital assets and tokens.

eToro Now Supports TRON

Following tight eToro, the global exchange just added its 15th token on its cryptocurrency platform with the TRON token, the TRX.

TRX will now be available for purchase and trading in the social trading community with over 10 million active users
Founded by Justin Sun, TRON is currently the 10th largest crypto asset in the world, with a market capitalization of 1.5 billion dollars. 

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