eToro, a social trading and investment platform with an array of investments and trading instruments, has bought Delta; Delta is a crypto-currency portfolio tracker application.
What is Delta?
The deal of eToro for the acquisition of Delta is not public knowledge, but sources claim that the deal may be worth five million dollars. The crypto-currency portfolio application, Delta, facilitates investors in making smarter trading decisions when it comes to crypto-currency assets and investments. Delta makes it possible by offering instruments such as pricing data and portfolio tracking of crypto-currency.
Delta’s crypto-currency portfolio tracking application has over six thousand crypto-currency assets that are resulted from more than 180 different exchanges in the market. It also offers traders with an array of instruments that allow tracking and analysis of their crypto-currency portfolios. There are currently about hundreds of thousands of active users that subscribe monthly.
The Delta application is in accordance with the new transitions that eToro is facing, eToro is currently going through changes where they are attempting to own the element of ETFs, and the introduction of crypto-currency trading to the United States.
What Happens Now to eToro and Delta?
The current acquisition sees fit that Delta join the eToro Group, and the Delta team will merge with eToroX. According to eToro, “the team will continue to be based in Belgium, working in close collaboration with eToro and eToroX employees across the globe.”
Furthermore, eToro is constantly reminding the public that they are a regulated and licensed trading platform, which makes it possible for traders to hold both crypto-currency and traditional investments in the same portfolio. With Delta and eToro under the same umbrella, it will expand traders’ spectrum in the industry and they would be able to monitor all their investment, which will all be in one place. This starts with crypto-currency, and it will eventually turn into a multi-asset possibility.
eToro also gives the option to traders to trade from their in-house application, eToroX, their own crypto-currency exchange.
According to the CEO and co-founder of eToro, Yoni Assia, “at a time when other Fin-Techs state that they are not even targeting profitability, we are proud to be a well funded profitable business that is growing both in terms of geographical coverage but also product range.”
He also stated that “we are a trading and investing platform that not only provides clients with access to the assets they want, from commission free stocks and ETFs through to FX, commodities and crypto-assets, but also lets customers choose how they invest. They can trade directly, copy another trader or invest in a portfolio. We believe in empowering our clients and the acquisition of Delta will allow us to add an important new element to our offering.”