eToro Adds Support for 120 ERC-20 Standard Tokens

Cryptocurrency wallet eToro is providing support for 120 ERC-20 standard tokens.

According to a press release, first to be supported in the wallet beginning July 2 are OmiseGO (OMG), Basic Attention Token (BAT), Maker (MKR), with the others to be added soon. ERC-20 is a technical standard that defines rules for tokens built on ethereum or associated blockchain.

eToroX managing director Doron Rosenblum said:

“Adding 120 ERC-20 tokens to the eToro wallet is further evidence of our belief that one day all investable assets will be tokenized. One of the main barriers to mass adoption of cryptoassets is lack of access. Making these first 5 tokens available enables more people to transfer and hold them into a secure and regulated wallet.”

The wallet is operated by eToro US LLC within its U.S. jurisdiction. eToroX also introduced a cryptocurrency exchange and eight eToro-branded stablecoins back in April.

Yoni Assia, CEO and co-founder of eToro, stated at the time:

“Just as eToro has opened up traditional markets for investors, we want to do the same in the tokenized world. […] Blockchain will eventually ‘eat’ traditional financial services through tokenization.”

In February, parent company eToro itself introduced a wallet service and cryptocurrency buying and selling platform in the U.S. This was not the first time it dived into crypto space though. The company launched bitcoin trading on its platform way back in 2014.