eToro Joins Blockchain Association to Build an Inclusive and Efficient Financial Ecosystem
Blockchain Association and eToro are launching a partnership to push the development of an inclusive and efficient financial ecosystem aided by blockchain technology.
Investment platform eToro has partnered with the Blockchain Association to promote more efficient, inclusive and distributed financial systems as well develop a better-decentralized web application.
In a statement sent to Cryptovest, eToro said it would join Blockchain Association as an executive member, and work alongside notable blockchain organizations such as Coinbase, Circle, Polychain, and Digital Currency Group.
Guy Hirsch, USA Managing Director, eToro, commented, “As a company, we prioritize compliance with the regulations of all the jurisdictions we operate in around the world. As the United States’ blockchain industry evolves and matures, regulators and the industry need to prioritize conversations around ensuring consumers are informed and protected from bad actors. We are looking forward to collaborating with regulators and major industry players on how to provide guardrails without hindering innovation so that blockchain companies can flourish in a compliant manner. The Blockchain Association promotes policies that balance consumer protection and innovation and we’re proud to help drive its mission forward.”
According to Hirsch, eToro sees that working with the group is a crucial step toward solidifying eToro’s role in the US crypto market ahead of its launch.
Among the goals of the partnership is to encourage effective regulation in an evolving industry that requires collaboration between significant industry players. He added that the company has always prioritized keeping its customers informed and protected from bad actors. Working with the Blockchain Association will leverage eToro’s platform to help educate regulators and crypto enthusiasts to ensure the industry continues to thrive.
Blockchain Association director of external affairs Kristin Smith added, “The power of open blockchain technology lies in the control it returns to individual consumers. eToro’s groundbreaking investment platform operates in that spirit, giving users the opportunity to trade across multiple asset classes, including cryptocurrencies, safely and securely. We’re excited to add eToro to a growing group of leading companies as we push for informed and responsive regulation that spurs innovation and protects consumers in this rapidly-developing industry.”
Hirsch pointed out that empowering the people to achieve their financial goals starts with giving them access to a wide range of assets, including providing them education to allow investors to utilize the full potential of these assets.
Only recently, eToro launched its Good Dollar initiative aimed at reducing the global wealth inequality. The company had invested $1 million into Good Dollar to assist the unbanked sector gain access to financial facilities through cryptocurrencies.