eToro, one of the widely used trading platforms is all set to experience improved customer lifecycle as per reports. Yoni Assia, CEO, and Founder of eToro has confirmed the news at the Ethereal summit which was held on last Sunday. Ethereum founder Vitalik Buterin along with other dignitaries were present at the summit, and the announcement was made in the presence of these popular personalities.
This new commission-free trading service came as an upgradation to the existing equity trading that eToro has been doing for the last couple of years. Equity trading has brought in huge profits for the company, and so the company is now focusing on cross-pollination with crypto assets.
According to Assia, this commission-free trading is focused on bringing up more customers by providing them the basic services primarily and then diverting them to the eToro platform. It has been seen that though people come for equity trading at first, eventually they move on to trading other assets like Crypto, CFDs or ETFs. eToro is going to catch this behavior of the customers and expose them to the eToro platform.
Apart from this, eToro is all set to launch its new project, Lira, an open-source programming language that is expected to assist crypto trading. It is expected to reduce the risk involved in settling financial contracts and will also help to create new derivatives products from the ETH blockchain. Assia confirmed that even with the launch of Lira, the priorities of the company towards equity trading would not change. It will continue to serve its customer on a wider crypto platform as it used to, before the launch of Lira.
All these new launches are not alone responsible for helping eToro to survive in the competitive crypto market. Rather, its consistent efforts to bring these services amidst such competitive market conditions are responsible for the company’s success.
The marketing restrictions and leverages imposed last August compelled brokers to leave the market. Though eToro was also affected by the regulation, its strong customer base, and products ranges helped it to withstand the regulations imposed by ESMA or the European securities and market authorities.