eToro Acquired Smart Contracts Development Company ‘Firmo’.

eToro Acquired Smart Contracts Development Company ‘Firmo’.

2019-03-25 | Big Bob

eToro Acquired Smart Contracts Development Company ‘Firmo’.

In line with a recent official 'press-release' published, cryptocurrency exchange and social network for investors and traders named ‘eToro’ revealed that it has acquired smart contracts development company ‘Firmo’ for an undisclosed price.

Yoni Assia - The co-founder and chief executive officer of eToro is quoted within the announcement explaining that the acquisition can permit the platform to grow its offering of tokenized assets. He conjointly added:

“We believe that in time all investible [sic] assets are tokenized and that we will see the best transfer of wealth ever onto the' blockchain' technology.”

According to the press-release, the team of the acquired company can act as an internal innovation team engaged on the tokenization of all eToro’s assets. This process would also reportedly involve the analysis and development of infrastructure dedicated to the illustration of assets and trade execution on blockchain.

The announcement added that Firmo’s technology permits the safe deployment of economic financial contracts on any blockchain. The system employs a domain-specific contract language named “FirmLang” which will be translated by the company’s software onto platforms like Ethereum [ETH], Eos [EOS] or Neo [NEO].

Earlier today, eToro has conjointly 'announced' the listing of Tron [TRX] on its cryptocurrency commerce service, that was 'launched' at the beginning of this month. Even earlier in March, eToro had 'launched' crypto trading services within the United States.

Moreover, United States based institutional cryptocurrency exchange named ‘Seed CX’ partnered with Singapore-based fintech firm ‘Hydra X’ to offer its trading service within Asia.

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