eToro Acquires Danish-based Smart Contract Development Company Firmo

by | Mar 26, 2019 | Blockchain, Cryptocurrency, Cryptocurrency News

eToro | Firmo | eToro Exchange | Cryptocurrency | Smart contract

eToro, exchange and social network for investors and traders announces the acquisition of Danish-based smart contract development company Firmo in a press release published on March 25.

The press release quoted Co-founder and CEO of eToro Yoni Assia as he elaborates that the acquisition will allow the platform to grow its offering of tokenized assets. He also noted:

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

Per the release, the team acquired through the acquisition will play the role of an internal innovation team, that will work on tokenization of all eToro’s assets. Reportedly, this will also involve research and development of infrastructure that will be dedicated to the representation of assets and trade execution on blockchain.

The announcement further claims that Firmo’s technology will allow safe deployment of financial contracts on any blockchain. The system employs a domain-specific contract language called “FirmLang” that can be translated by the company’s software onto platforms such as Ethereum (ETH), EOS (EOS) or NEO (NEO).

Earlier to this announcement, eToro announced listing Tron (TRX) on its cryptocurrency trading service. Reportedly, the said trading service was launched at the beginning of the current month in 31 US States.

Read More: A New Report Predicts That Blockchain Spending In US Will Increase To $41 billion By 2025

Image Source – Firmo Twitter

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