eToro, a leading “social trading and multi-asset brokerage company,” has just purchased Delta, a cryptocurrency portfolio tracking application.
Reported by TechCrunch, this news marks eToro delving even more into the cryptocurrency space, with it recently launching a cryptocurrency wallet and trading service.
As of now, we don’t know how much the deal was worth, but a source close to the publication claims that it was around $5 million.
Essentially, Delta helps users make educated decisions when it comes to investing in cryptocurrencies by tracking their trading history. This is key for such a nascent space, especially considering that many out there are struggling to adopt Bitcoin, let alone the hundreds of other assets out on the market.
Widespread Cryptocurrency Adoption
As of now, Delta supports over 6,000 crypto assets and over 180 exchanges, using information from all of those spaces to keep investors informed. Since it launched, the platform has seen 1.5 million downloads.
“At a time when other fintechs state that they are not even targeting profitability, we are proud to be a well funded, profitable business that is growing both in terms of geographical coverage but also product range,” says the CEO of eToro, Yoni Assia.
“We are a trading and investing platform that not only provides clients with access to the assets they want, from commission free stocks and ETFs through to FX, commodities and cryptoassets, but also lets customers choose how they invest. They can trade directly, copy another trader or invest in a portfolio. We believe in empowering our clients and the acquisition of Delta will allow us to add an important new element to our offering,” she continues.
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Disclaimer: Transacting in virtual currencies is subject to various risks, such as price volatility, and is therefore not suitable for everyone. Your capital is at risk. eToro offers only Crypto (real crypto no CFD) so only buy with no leverage, later on this year eToro will also offer real stocks for trading.