eToro opens a cryptocurrency trading desk in London. News in sight for institutional investors in the UK area.
eToro, one of the best known brokers globally, which offers trading in cryptocurrencies, currencies and other assets, is about to open a new trading desk of digital currencies over the counter in London, according to the specifications elaborated by Business Insider.
The service of trading desk it should therefore encourage the creation of financial trading activities outside the regulated markets (as in the case of cryptocurrencies): the assets that are exchanged in modality OTC they are usually subject to less transparency and regulation than they would be if they were listed on the stock exchange, but this does not imply a lower interest (on the contrary) for most investors, eager to take advantage of the speculative margins granted.
The CEO Yoni Hesse he told Business Insider that most of the expressions of interest in opening a London trading desk came from hedge fund owners. The top manager said that “we have actually set up our business team here in the UK to start creating accounts to trade on eToro. (...) We are also starting to serve more financial institutions. I think there is a growing institutional demand and the interest of public investors is aimed at understanding if they can actually participate in this business. It is something that we are surely noticing, and we are also noticing more and more open market players and large banks who are interested in this ecosystem, and feel excluded because they are not allowed to invest in cryptocurrencies or in ICOs ".
Recall that eToro is a social trading broker, and offers its customers the possibility to copy the behavior of other users. Offers foreign exchange trading, stocks and CFDs. It employs around 500 people and has offices in the UK, Cyprus and Israel. Founded in 2007, it started offering Bitcoin trading in January 2014. In 2017 the cryptocurrency became so popular that the same company admitted to having recorded a 4,500% increase in trading volume, and that on a day in December 2007 has gained more new customers than all the previous year.
eToro is a multi-asset investment platform. The value of your investments may rise or fall. Your capital is at risk
