Multi-Asset Investment Platform eToro Buys Cryptocurrency Portfolio Tracking App Delta
eToro, provider of trading and investment platform, has bought Delta, an app facilitating tracking of over 6,000 cryptos and tokens traded on 180 exchanges.
Israeli tech outlet CTech has reported that eToro has acquired the app for roughly $5 million, even though the acquisition amount was officially undisclosed.
According to Doron Rosenblum, managing director of eToroX, a blockchain subsidiary of eToro, has stated that they would integrate Delta on the eToroX platform, enabling users to trade without exiting the app.
eToroX also intends to start supporting assets other than crypto currencies through Delta app.
eToro built eToroX last year, providing a wallet for crypto assets, with a plan to open an exchange in the future.
The purchase of Delta is the second one for eToro in 2019. Back in March, eToro bought smart contracts development enterprise Firmo.
At that time, the trading platform provider stated that Firmo’s staff would consequently function as an internal innovation division at eToro that carries out the job of tokenization of its assets.
In October, eToro rolled out an analytical tool that quantifies sentiment. The tool was developed in collaboration with The Tie, an analytics and finance management startup.
The tool monitors people’s opinion about cryptos by validating virtual assets related interactions, including processing of over 850 million tweets via machine learning and natural language processing programs.