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The investment and social trading platform eToro announced that it had acquired the Danish outsourced infrastructure provider Firmo for an undisclosed purchase price.
Firmo's platform enables stock exchanges to execute intelligent financial contracts on various badets, including cryptographic derivatives, and on all major block chains. Dr. Omri Ross, founder and CEO of Firmo, described the company's mission as follows: "…[ing] our users are able to trade any badet worldwide with instant settlement by creating badet tokens and running all essential business processes on the blockchain. According to Pitchbook data, the only unveiled investment from Firmo has been provided Laboratory Accelerator.
Firmo's mission fits well with that of eToro – equal trading platform, social network and educational resource for novice investors – the company's long-standing hope of making capital markets more open, transparent and transparent. accessible to all badets and badets. . By engulfing Firmo, eToro will be able to accelerate the development of its offers for symbolized badets.
The acquisition is the latest step in eToro's broader growth plan, which has recently accelerated. Earlier in March, the company had launched a US-only crypto version of its platform, as well as a multi-signature digital wallet allowing users to store, send and receive crypto -monnaies.
The Firmo affair and eToro's other expansion activities fit perfectly with the company's belief in the symbolization of badets and the immense opportunity it creates to define the sector. Etoro believes that the creation of badet tokens and the transfer of financial services on the blockchain are almost inevitable. The company has implemented the long-term strategy of investing heavily in blockchain and crypto technologies, despite the ongoing winter.
"The blockchain and the symbolization of badets will play a major role in the future of finance," said co-founder and CEO of eToro, Yoni Assia. "We are confident that, in time, all investable badets will be symbolized and that we will witness the greatest wealth transfer of all time on the blockchain." Assia expressed the same sentiment in a recent conversation with TechCrunch, stating: "We [the tokenization of badets] is a greater opportunity than the Internet … "
After the acquisition, Firmo will function as an internal research and development branch within eToro, focused on the development of block-chain-oriented transaction execution and the underlying infrastructure for the digital representation of badets under management. Mark.
"The Firmo team has pioneered the development of practical applications for blockchain technology, which will facilitate frictionless global trade," Assia said.
"The adoption of smart blockchain contracts increases trust and transparency in financial services. We are incredibly proud and enthusiastic [Firmo] will join the eToro family. We believe that together we have a very bright future and look forward to pursuing our common goal of becoming the world's first truly global service provider to enable people to trade, invest and save. "
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