Investment platform eToro has moved to strengthen its cryptocurrency offering by Celo and The Sandbox, increasing its overall number of crypto assets to 42.
Celo was first added to the eToro platform towards the end of last month, whilst Sandbox was incorporated more recently – although the two tokens will not be made available in the US – in a move indicative of wider mainstream acceptance of cryptocurrency and blockchain technology.
A recent development saw Meta, the rebranded operator of the Facebook and WhatsApp social media and messaging providers, embark on a small-scale experimental launch of a cryptocurrency transaction service via the latter platform.
“We’re seeing huge demand for DeFi and metaverse tokens, and we’re delighted to be able to offer more of these assets to our customers,” remarked Doron Rosenblum, VP of Business Solutions at eToro, which has been offering access to crypto markets since 2013.
“The addition of these new tokens to the eToro platform demonstrates the breadth of choice available to investors in the crypto asset market today, with some 42 tokens now available on our platform. We will continue to grow our crypto offering to enable users to diversify their portfolios with a broad range of crypto assets.”
The Sandbox functions as a virtual game based on blockchain technology, also utilising NFts and Defi, in a 3D metaverse, in which players create and customise games and digital assets using free design tools.
Virtual goods created can be monetised as NFTs and sold in exchange for SAND tokens – which serves as the basis for all transactions and interactions in the game – via the Sandbox Marketplace.
“We’re delighted that eToro islisting SAND tokens on its platform,” said Sebastien Borget, COO & Co-Founder at The Sandbox.
“This is a great first step which enables its customers to discover more about NFTs and engage with one of the many possibilities of our open gaming metaverse.”
Meanwhile, Celo serves to provide access to financial services ‘severely limited’ by available technology’ with the added benefit of the ‘ubiquity of mobile phones’. The DeFi platform aims to make tools and transactions available on a mobile-first basis to improve access, with investors in the token able to vote on initiatives such as making the token’s blockchain carbon neutral.
Natalie Alfers, Exchange & Partner Marketing Lead at the Celo Foundation, commented, “The teams working on Celo are looking forward to collaborating with eToro, a pioneer in the crypto space and leading social investment platform, to give its users access to purchasing CELO and participating in the evolution of the growing Celo ecosystem.”