The chief executive officer or CEO of eToro, which is one of the key social trading and investing platforms within the crypto industry, recently expressed his enthusiasm for a possible collaboration with the Ripple Labs.
Yoni Assia is the CEO of this well-known platform which allows users to invest and trade in a lot of assets including crypto, fiat, stocks, commodities and ETFs (exchange traded funds)
Back in December 2018, eToro added Ripple cryptocurrency XRP, currently the third largest as per market cap, to its roster. Now, the CEO of the platform wants to take that collaboration further.
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Yoni Assia, recently had an interview, held at the Paris Fintech Forum. In that interview, he spoke about the disruptive nature of blockchain technology and how much promise it holds when it comes to the world of fintech. In the video version of the interview that has recently been uploaded to YouTube, he also discussed the role of blockchain technology in making asset management services smoother and more efficient.
Assia highlighted on how it is incredibly difficult to shift assets from one storage location to another all around the world. For example, it is really an ordeal to be able to shift shares out of one bank and move it to another.
However, as blockchain allows users to tokenize assets, it can have immense potential as far as asset management and wealth management is concerned. Seamless shifts become possible and buying and selling in real time also becomes less chaotic.
To quote him:
“By definition, you cannot tell your bank, you know what, give me my Apple shares. It is just not transferable to you. The biggest difference in tokenized assets, is that you are able to transfer them to your own potential wallet.”
Speaking of the possibility of partnering with Ripple Labs, he opined:
“We are one of the largest trading platforms for XRP, so we are very interested in forming a relationship with Ripple Labs and understanding what can we do together.”
Will we see a collaboration soon? Let’s wait and watch.