CNBC\ninterview Jay Clayton<\/a>, chairman of the US Securities and Exchange\nCommission welcomed that \u201cprogress is being made\u201d regarding bitcoin ETFs and\nits concerns about the functioning of the crypto markets. <\/p>\n\n\n\nHe said there were still however substantive questions to\naddress regarding price manipulation on unregulated exchanges and the need to\nimplement professional level supervision and surveillance of crypto markets. <\/p>\n\n\n\n
eToroX\u2019s new service will probably be seen by the SEC as another\ndevelopment in the right direction. <\/p>\n\n\n\n
eToroX promises the fees will be \u201chighly competitive\u201d with \u201cprofessional\nlevel connectivity\u201d, according to an emailed press release.<\/p>\n\n\n\n
eToro on a roll<\/h2>\n\n\n\n
Israel-headquartered eToro has been busy of late.<\/p>\n\n\n\n
In addition to the eToroX rollout in April and the launch of\neight fiat-backed stablecoins at the same time, in March eToro launched its\nmainstream investment platform in the US and has also unveiled a model portfolio\nconstructed around firms involved in the Facebook Libra project.<\/p>\n\n\n\n
\u201cThe AlgoX Prime trading program aligns with eToro’s\nstrategy of bridging the gap between blockchain and the traditional financial\nmarkets,\u201d said Yoni Assia, eToro chief executive. <\/p>\n\n\n\n
\u201cThe ability to trade using APIs will help steer\ninstitutional traders to connect to the crypto market, and to utilize eToro’s\nhigh-trading volume.\u201d<\/p>\n\n\n\n
eToro has also recently launched a 5G-focused portfolio aimed\nat its Asian customers in a sign of its growing ambitions of the company in\nboth mainstream investing and crypto.<\/p>\n\n\n\n
Commenting on the eToroX trading API announcement, Jasper\nLee, managing director of eToro Asia, sees the launch as an important building\nblock on the road to mass crypto adoption: \u201cIt is highly significant that we are\nlaunching AlgoX Prime API trading programme today in South East Asia. The\nmarket in this region is highly dynamic. People are very involved with crypto,\nand we believe that developments such as our new API program will greatly help\nfacilitate mass adoption.\u201d<\/p>\n\n\n\n
The US remains the largest crypto market but Chinese investors of late have been putting money on offshore exchanges such as Huobi at an increasing rate, with Japan and South Korea trading still important but, especially in the case of South Korea, a shadow of its former self.<\/p>\n","protected":false},"excerpt":{"rendered":"
Blockchain firm eToroX, a subsidiary of global investment platform eToro, announced today the launch of an institutional-grade trading API called AlgoX Prime. The trading API (application programming interface) will work with the eToro X digital asset exchange as the company works to attract institutional and professional business. With trading volumes pressured, notwithstanding the revival in the bitcoin price, attracting and servicing institutional customers has become more important for crypto exchanges. Although eToroX is somewhat shielded by its parent company\u2019s other […]<\/p>\n","protected":false},"author":17,"featured_media":22794,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[26],"tags":[2115],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/56422"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=56422"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/56422\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/22794"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=56422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=56422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=56422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}