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We are delighted to announce the addition of 35 new fiat pairs to the eToro platform.
This will bring the total crypto cross pairs to 44, providing our investors with even more diversification options and investment choices. The new pairs include major currencies from four different continents and six leading cryptocurrencies.
Cryptocurrencies have become extremely popular in Canada recently. Both traders and exchanges have grown in number, with Canadians afforded plenty of access to US exchanges as well. Fiat pairs, like the BTC/CAD and ETC/CAD, are among the most popular financial assets among Canadians right now. Canadian authorities have increased digital currency regulation and oversight over the last several years.
Due to its monolithic size, the European Union can often be slow to adapt new rules and regulations to the constantly changing global markets. Thus, cryptocurrencies remain in a state of uncertainty, unregulated by ESMA (European Securities and Markets Authority). This could change soon, with calls from leading political figures to clamp down on the crypto market with new harmonised regulation. Perhaps unsurprisingly, the Swiss Franc is widely available for crypto cross pairs, including the ETH/CHF and BCH/CHF.
Australia and New Zealand
Unlike Canada and Europe, some countries in the Oceanic region are far more lenient when it comes to cryptocurrencies. The Australian government does not consider cryptocurrencies a legal form of electronic currency, allowing them to overlook many of the regulations and legal requirements that govern similar financial assets in the country. Some of the new Australian Dollar pairs include ETH/AUD and ETC/AUD. New Zealand is a different matter. While they are in close proximity, the two countries do not share the same outlook on cryptocurrencies. The New Zealand authorities treat crypto like any other currency, both in terms of regulation and taxation. There are plenty of NZD pairs to choose from, such as the BTC/NZD and the BCH/NZD.
Perhaps the most interesting scenario for cryptocurrencies can be found in Japan. The Japanese government has granted the cryptocurrency community self-regulatory status, effectively allowing the industry to police itself. This makes trading the ETC/JPY and the LTC/JPY easy and convenient. Japan recognises cryptocurrencies as legal tender.
More Options and More Opportunities
Our goal of providing additional fiat pairs on the eToro platform is part of our overall strategy of constantly increasing financial opportunities for our traders. The 35 new fiat pairs provide eToro traders with an extended global reach for their investments, along with increased flexibility for their trading portfolios.