eToro CEO: “We’re Building a Blockchain, Maybe, Probably, Who Knows? 🚀”

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So, Yoni Assia, the big cheese at eToro (ETOR), sat down with Fortune and dropped this bombshell: they’re *thinking* about building their own blockchain. 🤔 Yeah, because what the world needs is *another* blockchain. This is happening right after they went public on Nasdaq in May, because why not add more chaos to the mix? Apparently, they’re also cozying up to “four or five” blockchain platforms. Names? Nah, he’s keeping those under his hat. Classic Larry David energy: “I’m not saying anything, but I’m saying *something*.”

eToro’s Blockchain Dreams: A Side Chain, Maybe? 🛤️

Assia’s like, “We’re not launching tomorrow, but hey, a side chain might work.” A side chain? Is that like a side hustle for blockchains? He’s got beef with existing blockchains too: “We can’t run our millions of transactions on them.” Oh, the horror! Poor eToro, forced to innovate. 😢

Apparently, their whole ecosystem *needs* its own blockchain. Because, you know, the current setup is just *so* 2022. 🙄

And get this—right after hinting at a blockchain, they announce tokenized stocks on Ethereum. Tokenization? It’s like turning stocks into digital Legos. 🧱 Users can trade 24/7, starting with 100 US companies and ETFs. But hold your horses—it’s only for European users on a waitlist. Because exclusivity is the new black.

ERC20 Tokens: Trading Stocks Like It’s 3023 🌌

Bloomberg spilled the tea: eToro’s launching tokenized US stocks as ERC20 tokens on Ethereum. Round-the-clock trading? Sure, why sleep when you can trade? Initially, it’s 24/5, because weekends are for amateurs. Assia’s all hyped about merging crypto wallets with stock trading. “Seamless experience,” he says. Sounds like a buzzword salad to me. 🥗

Oh, and Robinhood’s doing the same thing in Europe. But regulators side-eyed them for giving away OpenAI “tokens” that weren’t even real equity. Oops. 🤦‍♂️

Meanwhile, eToro’s stock (ETOR) took a 4% nosedive on Tuesday, closing at $60. That’s a 24% drop from its June 10 peak of $79. Ouch. Maybe they should focus on that instead of blockchain dreams? Just a thought. 🤷‍♂️

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2025-07-30 15:13