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Nasdaq-listed global investment platform eToro Group Ltd. announced that it will offer 24/5 trading for 100 U.S.-listed stocks and ETFs and will launch these assets as ERC20 tokens on Ethereum.
Additionally, the company partnered with CME Group to offer spot-price futures contracts and signed a $250 million, three-year credit agreement for strategic growth.
In a webinar held today, the company announced that it will initially offer 24-hour trading on weekdays for 100 popular US stocks and ETFs.
“We want to offer our global user base the freedom to trade on their own timetable,” company CEO and Co-Founder Yoni Assia said in a statement.
Assia also stated that eToro's ultimate goal is to tokenize all assets on the platform, and that US stocks are the first step in this direction. These tokens, which will be released on the Ethereum network in the ERC20 format, will allow users to transfer tokenized assets to the blockchain and integrate them with the decentralized finance (DeFi) ecosystem. eToro previously took its first steps in this area in 2019 by tokenizing gold, silver, and some fiat currencies.
*This is not investment advice.