Global trading and investment platform eToro has announced that NEO and Stellar (XLM) are the latest cryptocurrencies to be added to the site. As of Monday, 19th February, 2018, eToro’s nine million users will be able to trade an impressive total of nine cryptos.
The decision to introduce these two exciting altcoins is a response to the growing demand for diversification in this increasingly popular asset class, according to Yoni Assia, eToro’s Co-founder and Chief Executive Officer.
“If 2017 was the year of Bitcoin, 2018 will be the year of altcoins,” he said, pointing out that the global market capitalisation for all cryptos exceeded £500 billion last year. “As investors seek new opportunities and diversification within their portfolios, attention will shift away from the mainstream cryptos towards new challengers in the market.
“We’re constantly identifying and assessing new concepts as they emerge and are committed to bringing the best crypto assets onto our platform for our users to invest in. We’re excited to have NEO and Stellar now available and we look forward to seeing how the market develops in 2018 following a very successful 2017 for the crypto community.”
China-based project NEO, founded by Da Hongfei (and originally launched in 2014 as AntShares), is a blockchain platform and also a crypto that enables the development of both digital assets and smart contracts. Users are able to issue and trade assets on the platform, and NEO uses tokens to prove ownership of asset – and not the asset itself. This therefore takes into account all of the legal complications and obligations that may come with the transfer of shares, equity and assets.
And Stellar, founded by Jed McCaleb and Joyce Kim in 2014, is an open-source protocol for value exchange, which is supported by the nonprofit Stellar Development Foundation (SDF). As a public infrastructure for money it allows increased interoperability between diverse financial systems and currencies. Further, it is a technology that enables money to flow directly from people, companies and financial institutions