The social trading platform eToro has acquired a new partner. They have bought the company behind the Delta crypto portfolio app.
Full details of the deal haven’t been released yet. However, some online sources suggest that eToro paid in the region of $5 million for the deal.
What Is the Delta Crypto Portfolio App?
This is a mobile app that helps crypto investors with their decision-making. It gives users a range of tools to help them to track their crypto portfolio and prices.
It fits in neatly with eToro’s ambitious plans too. They have recently rolled out cryptocurrency investment options to American users. This means that they now offer their services to customers in over 170 countries around the planet.
The Delta app supports over 6,000 different types of crypto assets from more than 180 exchanges. The people behind it say that the app has been downloaded one and half million times. They also say that it has hundreds of thousands of regular users.
Nicolas Van Hoorde is the CEO of Delta. He was quoted as saying that this move “makes sense” for Delta, for eToro and for their respective users.
What Does It Mean for eToro?
Our eToro review shows how this company offers a wide range of investment services. As well as cryptocurrency trading, they also have stock market options, commodities and other investments. In addition, they recently brought out two new stablecoins.
The idea seems to be that the addition of the Delta app will give customers a more complete experience. They can now track all of their investments in one place. It will also be possible to trade directly from the crypto portfolio app, using the eToro platform.
According to eToro, the Delta team will continue to be based in Belgium. However, they will now join the eToro Group and will begin to collaborate with the rest of the company’s employees. In fact, they will be part of the eToroX blockchain subsidiary that was set up last year.
Doron Rosenblum is the managing director of eToroX. He welcomed the Delta team and called it a fantastic product. Rosenblum also confirmed that they will be looking at ways to “continue to diversify Delta” and broaden the scope to cover all of the eToro products.
Yoni Assia is the CEO of eToro, as well as being a co-founder of the group. He said that are “proud to be a well funded, profitable business”. Assia also pointed out that they are growing both geographically and in terms of their range of products.
This crypto portfolio app company is their second acquisition of the year, with more expected soon. It seems that the eToro management team is keen to keep on growing at a fast pace