eToro to Launch Tokenized U.S. Stocks on Ethereum Blockchain
eToro (ETOR) announced plans to tokenize U.S.-listed equities on the Ethereum blockchain, aiming to enhance trading accessibility and compatibility with decentralized finance (DeFi) applications. Key points include:
- The ERC-20 tokens will represent shares held by eToro and can be converted back into traditional stock.
- This initiative allows for around-the-clock market access.
- CEO Yoni Assia emphasized the intention to tokenize all assets on eToro, starting with stocks.
- New regulations like MiCA in Europe and the Genius Act in the U.S. create opportunities for regulated digital assets.
- eToro joins other platforms like Robinhood and several crypto exchanges that have recently launched tokenized equities.
- The company has prior experience in tokenization, having acquired Danish startup Firmo and previously launched tokenized gold and silver.