The cryptocurrency market has been abuzz with activities throughout the past few weeks, and the latest announcement from eToro is an added confirmation of that fact. The multi-asset investment platform revealed that it had acquired Delta, a popular cryptocurrency portfolio tracker application.
Yoni Assia, the co-founder and Chief Executive Officer of eToro, had said:
“We are excited to announce that Delta will become part of the eToro Group. This is our second acquisition this year and reflects our commitment to continued growth and innovation. When we started eToro our goal was to disrupt the world of trading.”
Although all details have not been divulged yet, some sources state that the deal was struck at $5 million. Delta became famous for supporting more than 6000 cryptocurrencies from more than 180 exchanges while providing investors with a range of tools to track and analyze their crypto portfolios. Assia added:
“We wanted to change the way people think about trading and investing, ultimately reducing dependency on traditional financial institutions and make trading and investing more transparent and fun. This mission remains our guiding light and we will continue to evolve both organically and by acquisition in order to bring our customers the very best experience.”
eToro has confirmed that the acquisition will enable in creating a streamlined atmosphere for users to track all their investments in one place, starting with cryptocurrencies. The organization also has plans to move into multi-asset trading later. eToro officials have stated that customers can trade directly, invest in a portfolio, or copy another trader to conduct any sort of transactions on the platform.
eToro’s Chief Market Analyst Mati Greenspan has also been in the news multiple times for is predictions about the cryptocurrency market as well as his engagements with other proponents in the field. The latest acquisition fits into the mold projected by the company as Delta claims that it has over 1.5 million downloads with hundreds of thousands of active monthly users.
Post the merger, Nicolas Van Hoorde, the CEO of Delta, commented:
“This acquisition makes sense for Delta, eToro and most importantly our respective users. There are strong synergies between the two companies and we have many shared values, in particular the focus on community and continuous innovation.”
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