eToro, a global trading and investment platform with over nine million users, has today added Stellar on its platform, bringing the total number of cryptocurrency assets available on the site to eight.
The move comes as investors increasingly turn their attention to altcoins, seeking new investment opportunities and diversification for their portfolios.
Stellar, which is an open-source protocol for exchanging money, will now be available alongside Bitcoin, Ethereum, Bitcoin Cash, XRP, Litecoin, Ethereum Classic and Dash.
In July of last year, eToro announced that users on its platform would own the actual asset, rather than a CFD, recognising the growing interest among users to buy and hold the asset, rather than speculate on price movements.
The cryptocurrency will also be added to eToro’s Crypto CopyFund, which uses CFDs to enable investors to diversify across all available cryptocurrencies (weighted by market cap) with just one click.
eToro users benefit from eToro’s verification procedures, security processes and established reputation within the crypto community.
Jed McCaleb, co-founder of Stellar Development Foundation, added: “The development of blockchain technology is bringing new innovations to the market almost daily. Platforms such as eToro are an essential component in bringing together innovative projects and early-adopters. We are delighted to be working with a leading crypto platform to make Stellar available more widely.”