eToro Adds Cardano as Its 11th Cryptocurrency


Tel Aviv-based social trading platform eToro recently added Cardano (ADA), the eighth largest cryptocurrency by market cap, to its list of digital assets available to trade on its platform.

According to the company announcement, eToro says it made the decision to add the altcoin to its growing list of currencies, which also includes Ethereum Classic (ETC) and Stellar (XLM), because of “Cardano’s strong, highly-regarded blockchain platform.”

While some other cryptocurrencies could fall to the ebb and flow of supply and demand, Cardano’s strong, highly-regarded blockchain platform could be a driving force in maintaining its position as one of the world’s leading cryptocurrencies.

Launched in September 2017, Cardano is a highly secure blockchain written in Haskell. It allows formal verification of code and easy extensibility through a layered architecture.

Last month, news broke that eToro has been meeting with investment banks as it considers an initial public offering (IPO). According to reports, the company is currently in early-stage discussions with a number of London-based financial institutions about going public.

While eToro has not yet made a public comment in response to the report, insiders have shared that the main subject of discussion has been the current regulatory climate of cryptocurrencies, and how that climate might affect investor sentiment towards eToro.

eToro, while not currently available to investors in the United States, unveiled 2018 expansion plans with its latest $100 million fundraising round last March.

Similar: What is Cardano (ADA)? Here’s what you should know about this crypto
Referenced: Social Trading Platform eToro Considers IPO
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