Mass adoption of cryptocurrencies has been the major focus of proponents and users of the field. The latest move by a French cryptocurrency organization is a step in the right direction.
eToro, the cryptocurrency trading platform, announced that its partnership with the Napoleon Group which will launch NapoleonX, France’s first regulated cryptocurrency asset manager. Yoni Assia, eToro’s Chief Executive Officer, stated,
“I am delighted that asset managers like Napoleon Group want to work with eToro via our range of Partner CopyPortfolios. It is about making it as easy as possible for investors to tap into the strategies of professional asset managers and traders.”
France is one of the few countries in the world where crypto has been accepted, albeit in moderate ways. The adoption also received a big push after France’s Financia Business School began accepting fees in Bitcoin, a landmark move.
Officials from NapoleonX claimed that the partnership will ensure that members in the cryptocurrency community receive a substantial amount of help in terms of managing their assets, as well as stick to the mandated rules and regulations. Stephane Ifrah, CEO of Napoleon Group added,
“Crypto markets are volatile and this might be off-putting for some investors, that’s why we are eager to share our solutions with more people. Our strategy, historically, has enabled people to participate in the crypto bull run while limiting the downside in more turbulent markets.”
eToro was in the news recently after it launched 8 different stablecoins on its fully regulated cryptocurrency exchange, eToroX. Mati Greenspan, Senior Market Analyst at eToro tweeted,
“We’re launching now 8 new stable coins, which are the most traded currencies in the world.We will continuously innovate @eTorox to add more features and more assets.” “Every person can now log in to http://etorox.com and try it out.”
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