eToro Bulks Up on Crypto Services; Acquires Delta’s Portfolio Tracker

November 7, 2019 | Digital Assets, Latest News, News
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The Delta crypto portfolio tracker will be “an important new element” for eToro.

eToro, the multi-asset social and copy trading brokerage, acquired Delta for a reported $5 million. The portfolio tracker gives a bird’s eye view of the crypto market across 6,000 assets at more than 180 exchanges. Users get to track prices and charts and receive alerts on these crypto assets.

eToro enhances its crypto horizon

eToro was already offering crypto trading along with stocks, ETFs, FX, and commodities. Its specialized focus on social and copy-trading has earned it the business of more than 10 million clients globally. In line with market trends, eToro launched commission-free stocks and ETF Trading in May 2019.

eToro will now broaden its crypto services with the acquisition of the Delta crypto tracker. The deal is in line with eToro’s strategy to acquire businesses that can be sewn onto its existing platform.

Delta to harmonize with eToroX

Launched in 2017, Delta offered a combination of free and premium services. Co-founder and CEO Nicolas Van Hoorde leads the start-up. It will continue to work independently out of Belgium but under the umbrella of eToro’s crypto arm, eToroX.

Aside from crypto trading, eToroX offers its holistic crypto wallet that can store, convert and transfer Bitcoin, Ethereum, and other cryptocurrencies. A crypto exchange is also on the drawing board. Recently, eToro extended its well-known CopyTrader product to cryptocurrencies.

Delta’s tracker offering should, therefore, be readily consolidated within eToroX.

Organic growth

However, it should be noted that eToro achieved most of its rapid growth organically. eToro co-founder and CEO Yoni Assia said most fintechs were not even targeting profitability. On the other hand, eToro was already a profitable, well-funded business.

[Related Story: Fidelity Ramps Up Crypto Trading and Custody Business   ]

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