eToro Acquires Delta Blockchain
Multi-asset investment platform eToro announced its acquisition of Delta for an undisclosed amount. Co-founder and CEO Yoni Assia said the action reflects their commitment to ultimately make investing more “transparent and fun.”
Some sources claimed the deal was worth US$5 million, though whether it was stock, cash, or both remained unclear. Additionally, the broker didn’t announce any future targets.
The Delta app helps investors make better crypto investment decisions by providing a range of tools to analyze their portfolios.
The app supports more than 6,000 crypto assets from more than 180 exchanges and claims to see 1.5 million downloads.
Both companies have similar values, Delta CEO Nicolas Van Hoorde said, focusing on community and continuous innovation. eToro also built supportive and engaged communities with a commitment to build user-first, cutting edge technology.
Blockchain subsidiary eToroX Managing Director Doron Rosenblum welcomed Delta into their family. Rosenblum said the company would work towards diversifying its new acquisition and will integrate eToroX for easier in-app trading.
eToroX provides the infrastructure in the form of a crypto wallet and exchange that helps facilitate tokenized assets’ evolution.
Reports claim Hoorde will lead the Delta team alongside Rosenblum. The team will collaborate with the broker’s employees across the globe from their base in Belgium.
Yoni Assia said Delta could help his company achieve its goal of letting customers choose how they invest.
Firmo: eToro’s First Acquisition
Delta isn’t eToro’s first acquisition.
eToro announced its acquisition for the Copenhagen-based blockchain firm Firmo in March 2019.
Assia said the act would help boost the brokers’ goal to be active players in blockchain consolidation. In return, the broker agreed to give Firmo’s digital infrastructure a significant boost in tokenized financial assets.
Firmo offers a domain-specific language called FirmoLang to create a variety of financial instruments. FirmoLang enables cryptocurrency exchanges to provide decentralized derivatives for investors.
Assia claimed the company was interested in bringing in the blockchain platform’s research and development team.
