eToro, a leading crypto trading platform, has announced its partnership with the famous cryptocurrency exchange Binance and made Binance Coin (BNB) available on its platform. eToro is a well-known social trading platform on a global level and has contributed a lot in leading the fintech revolution.
By introducing Binance Coin on its platform, eToro has become the first exchange that allows trading of BNB using fiat currency. This addition has increased the number of crypto assets on Binance and made it portfolio more diverse. Traders now have 13 options that they can invest in on eToro i.e. BTC, ETH, BCH, XRP, DASH, LTC, ETC, ADA, MIOTA, XLM, EOS, NEO, ZEC, and BNB.
Binance Coin aka BNB is the token that powers the ecosystem of Binance. It is the native currency of Binance and it is used normally for the payment of transaction fees. BNB investor can use this token for certain investment opportunities present on Binance’s Launchpad program in the form initial coin offerings (ICOs).
Changpeng Zhao, founder and current CEO of Binance issued a statement after eToro’s announcement. He said that Binance was honored to have its native token listed on the social trading giant like eToro. This listing will make BNB accessible to millions of people and will give those who are used to traditional financial trading, an opportunity to invest in it. BNB is a utility token and with eToro, we will continue to improve its value and utility.
Guy Hirsch, one of the managing directors of eToro, told CCN about the company’s views regarding the partnership in an interview. According to Hirsch, eToro adds only those crypto coins on its platform that have the potential of being part of the future with great business model and clear product roadmap.
Yoni Assia, the co-founder of eToro, said that they will continue to add both security and utility tokens on their platform. They fully support the Blockchain movement as a regulated securities broker and will continue to add more crypto assets that have meaningful use cases.
eToro was a traditional trading platform in the beginning but with the advent of the cryptocurrency revolution in the finance sector, they added crypto assets in order to keep up with the market’s changing landscape. eToro is currently an industry leader with over six million registered users. The platform signed seven Premier League sponsorship deals and paid the clubs in Bitcoins. This shows eToro’s commitment towards accepting the future technology with open arms.